PARIS, April 15 (Reuters) – European stock markets ended Wednesday without much conviction, while Wall Street was in disarray at midday, as investors tried to balance geopolitical concerns with numerous company results.
In Paris, the CAC 40 finished with a loss of 0.64% at 8,274.57 points, weighed down by the luxury sector. The UK’s FTSE fell by 0.47%, while Germany’s DAX rose by 0.18%.
The EuroStoxx 50 index declined by 0.74%, the FTSEurofirst 300 by 0.51%, and the Stoxx 600 by 0.43%.
At the close in Europe, the Dow Jones was down by 0.48%, but the S&P 500 was up by 0.43% and the Nasdaq surged by 1.10%. Bank of America (+1.75%) and Morgan Stanley (+4.35%) reported positive results, leading to gains for the S&P 500 and Nasdaq, erasing losses incurred since the start of the Iran war.
In Europe, stocks showed little movement during much of the session, with some indices briefly turning positive before ending mostly in the red.
Caution prevailed amidst uncertainty, as U.S. President Donald Trump suggested the conflict could end soon and the Strait of Hormuz could reopen. However, Iranian Revolutionary Guards stated they would block imports and exports in the Persian Gulf and Oman if the U.S. maintained its blockade on Iranian ships. Axios reported that Washington and Tehran were nearing a framework agreement to end the war.
“The market is cautiously optimistic that we can restore peace with Iran,” summarized Art Hogan, chief market strategist at B. Riley Wealth.
Investors also focused on company earnings reports, particularly in the luxury sector in Europe and the financial sector in the U.S., which continued to perform well.
Context: The article covers the performance of European and U.S. stock markets amid geopolitical tensions and positive company earnings.
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