Wall Street Climbs on Middle East De-escalation Hopes
Hopes for de-escalation in the Middle East set the tone for global markets, with Wall Street’s S&P 500 ending the week up 0.29% and the NASDAQ up 0.89%, First National Bank said in a morning brief on Monday.
The markets set for fresh recovery as investors welcomed signs of progress in US-Iran negotiations and President Trump’s plan to guide ships through the Strait of Hormuz.
European markets saw mixed moves, with the FTSE 100 closed for the Labour holiday, while the Euro Stoxx 50 ended the week 1.12% higher as central banks held rates steady and oil prices eased.
Asian markets are also mixed this morning, despite mostly positive cues from Wall Street on Friday, with markets in China and Japan closed as traders continue to monitor updates on the US-Iran peace proposal.
In Asia, the Hang Seng Index is up 1.46% on improving geopolitical sentiment and AI optimism, while the ASX 200 is currently down 0.45% amid some pressure in the mining space.
Johannesburg Stock Exchange (JSE) ended the previous session on a firm footing, supported mainly by improved global risk appetite despite data showing accelerating PPI in March.
The All-Share Index closed 1.15% higher, with the Top 40 rising 1.16%. Resources (+2.61%) stood out, helped by gains in platinum and gold miners as firmer metal prices and a softer US dollar lifted underlying commodity prices.
Industrials added a more modest 0.55%, while Financials lagged, ending 0.14% higher, as bank stocks saw only mild support from the steadier rand. Kenyan Shilling Strengthens as Diaspora Remittances Surge
