Europe Opens Sluggish as Oil Gains Slightly
European stocks opened slightly lower on Tuesday (April 28th), with investors awaiting Washington's stance on Iran's peace proposal and also monitoring the results of major regional companies. The Stoxx 600 index fell 0.1% shortly after the start of trading, as oil prices edged higher early in the session.
Major indices were mixed: the UK's FTSE 100 fell 0.1%, Germany's DAX fell 0.2%, France's CAC 40 fell 0.3%, while Italy's FTSE MIB rose 0.5%. The market also assessed earnings from Novartis, Airbus, BP, and Barclays, which served as sector-specific catalysts amidst fragile macro sentiment.
On the corporate side, Barclays fell 2.7% after disclosing a £200 million private credit-related loss due to exposure to property lender Market Financial Solutions. The bank posted a first-quarter pre-tax profit of £2.81 billion (up 3% year-on-year) with a CET1 ratio of 14.1%, and announced a £500 million buyback following the completion of a £1 billion program, targeting a capital return of over £15 billion over 2026–2028.
The primary focus remains geopolitics and its implications for energy and inflation. The White House confirmed that US President Donald Trump and his national security team discussed Iran's proposal to reopen the Strait of Hormuz if the US blockade is lifted and the war ends, although it remains unclear whether the offer will be accepted, as Trump has insisted the blockade will not be lifted until a deal is "100% complete." This uncertainty keeps oil prices sensitive, while global markets also await central bank meetings this week, including the Fed (Wednesday) and the ECB and Bank of England (Thursday), amid shifting inflation and growth expectations due to the war. (asd)
Source: Newsmaker.id
