Equities in the red amid war winds; Saipem lags

Got story updates? Submit your updates here. ›

On Friday, major European indices opened in negative territory, defying futures indications, after U.S. President Donald Trump postponed a planned strike on Iranian energy infrastructure until April 6 to allow for negotiations. Consequently, the FTSE Mib, Mid-Cap, Small-Cap, and Italy Growth indices all declined, while London's FTSE 100, the CAC 40 in Paris, and the DAX 40 also traded lower. In commodities, Brent crude futures rose toward USD110 per barrel, recovering early losses due to skepticism over whether the U.S. and Iran will soon reach an agreement to end the conflict. Natural gas futures also rose to EUR56.2 per MWh, extending gains from the previous session.

Why it matters

The ongoing tensions between the U.S. and Iran, and the potential for further military escalation, are causing significant volatility in global financial markets, particularly in the energy and commodities sectors. The postponement of the U.S. strike on Iranian targets has provided a temporary reprieve, but the uncertainty over a potential resolution to the conflict continues to weigh on investor sentiment.

The details

In Europe, the FTSE Mib is down 0.5% at 43,500.58, the Mid-Cap is in the red by 0.2% at 52,808.04, the Small-Cap is down 0.4% at 32,347.83, and Italy Growth is fractionally higher at 8,362.28. London's FTSE 100 is down 0.2%, as is the CAC 40 in Paris, while the DAX 40 is trading 0.6% lower. In commodities, Brent crude futures rose toward USD110 per barrel, recovering early losses due to skepticism over whether the U.S. and Iran will soon reach an agreement to end the conflict. Natural gas futures also rose to EUR56.2 per MWh, extending gains from the previous session.

• On Friday, major European indices opened in negative territory.
• U.S. President Donald Trump postponed a planned strike on Iranian energy infrastructure until April 6.