European markets concluded Tuesday’s trading session in the red, as investor attention remained fixated on the Middle East, particularly the impending expiration of the ceasefire between Iran and the US. Pakistan’s government announced that the ceasefire is scheduled to expire early Wednesday morning (PST), adding that Iran has not yet confirmed its participation in potential talks with the US in Islamabad.
Economically, Germany’s economic sentiment experienced a sharp decline in April, while Switzerland reported a substantial CHF 11.1 billion trade surplus in the first quarter. Meanwhile, the UK saw its unemployment rate tick up from 4.4% to 4.9% in February.
By the close of trading, the DAX index shed 0.85%, with MTU Aero Engines notably down 5.80%. The Euro Stoxx 50 fell 1.01%, and the CAC 40 decreased by 1.14%, impacted by Safran SA’s 6.80% plunge across both indexes. London’s FTSE 100 also saw a 1.12% drop, with Rolls-Royce Holdings declining 6.50%. In currency markets, the euro weakened by 0.36% against the dollar, trading at 1.17462 at 5:35 pm CET. The pound sterling similarly depreciated by 0.23% against the greenback, reaching 1.35035.
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