European Shares Rise; FTSE 100 Gains Led by Diageo
European markets opened strongly, with the FTSE 100 index in London rising 1.5%, or 153 points, to 10,372 in early trading.
Shares of Diageo increased by 4.6% (having been up 5.5% at the open) after the world’s leading spirits producer, known for Guinness, reported unexpected growth in quarterly organic sales. Strong performances in Europe and Latin America offset weaker results in the United States, its largest market.
The company maintained its 2026 forecast and acknowledged the potential impact of the Middle East conflict on energy, supply, and distribution.
Mining companies such as Anglo American, Antofagasta, and Fresnillo, along with banking stocks including Standard Chartered and NatWest Group, were among the top gainers in London.
The Italian Borsa rose 1.3%, while the French and Spanish markets each climbed approximately 1%.
Introduction: Oil Prices Retreat and Global Stocks Hit Record Highs After Trump Hails ‘Great Progress’ on Iran Deal
Good morning, and welcome to our continuous coverage of business, financial markets, and the global economy.
Asian stock markets reached record highs, following gains on Wall Street, while oil prices declined after former US President Donald Trump praised “great progress” toward a “final agreement” with Tehran.
Brent crude oil futures dropped nearly 2% to $107.7 per barrel. The US dollar weakened by 0.36% against a basket of major currencies.
Trump announced that the US effort to secure the Strait of Hormuz was launched on Monday but stated that his administration’s policies would remain in place. In a social media post, he said the move was based on requests from Pakistan and other countries, citing the “tremendous Military Success” during the campaign against Iran and the significant progress toward a comprehensive agreement with Iranian representatives.
"on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran"
MSCI’s All-Country World Index increased 0.56% to a new record, while the broadest index of Asia-Pacific shares outside Japan surged 2.8% at one point before retreating slightly by 0.1%.
South Korea’s Kospi index jumped nearly 8%, surpassing the 7,000 mark for the first time as the Seoul market reopened after a holiday. Samsung Electronics soared 15%, pushing its market value above $1 trillion, surpassing Warren Buffett’s Berkshire Hathaway and approaching Walmart’s valuation. Japan’s Nikkei rose nearly 0.4%, Hong Kong’s Hang Seng gained 0.8%, and China’s CSI 300 and the Australian market each advanced by 1.3%.
On Wall Street, stocks reached new all-time highs on Tuesday, with the S&P 500 index up 0.8% and the tech-heavy Nasdaq Composite rising 1%, driven by a surge in AI-related trading.
Chris Weston, head of research at broker Pepperstone in Melbourne, told :
"Investors bought and continue to add to positioning in the 2026 winners. There has been some buying in S&P 500 materials stocks, but it’s tech that continues to attract the bulk of flows, notably in Apple and the memory plays."
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