Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe open: Shares fall, oil gains as Trump dashes Iran peace hopes
(Sharecast News) - European shares fell sharply and oil rose again on Thursday after US President Donald Trump dashed investor hopes that his war of choice on Iran would end soon, saying Washington would hit the country "extremely hard" over the next two to three weeks. Asian shares turned red overnight after an underwhelming 19-minute speech from Trump which largely rehashed pronouncements about the war's objectives made over the last five weeks. Countries in the region are heavily dependent on oil exports from the Gulf.
The optimistic mood from Wednesday spurred by hopes the conflict was coming to an end turned sour as soon as European markets opened as traders went into risk-off mode, with the pan-regional Stoxx 600 index down 1.08% to 591.42 at 0741 BST. Germany's DAX slumped 1.39%, France's CAC 40 1%, the UK's FTSE 0.3%, Italy's MIB 1.21% and Spain's IBEX 1.27%.
To compound matters, crude prices jumped again after Trump repeated his demand that nations reliant on Gulf oil "take the lead" in breaking Iran's chokehold on the crucial Strait of Hormuz.
Benchmark Brent crude jumped 6.5% to $107.72 a barrel, while West Texas Intermediate gained 6.29% to $106.42. BP, Eni and Shell all gained as a result.
"Global markets took a step backwards overnight after Donald Trump's live address, with the mood shifting sharply from the cautious optimism that had been building in recent days," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
"From a market perspective at least, the speech appeared to have the opposite effect investors were hoping for, with oil pushing higher, bond yields climbing, and equity markets falling back. Rather than offering any fresh clues on a path toward de-escalation, Trump largely repeated a familiar set of talking points that traders have already digested across social media in recent weeks."
"The result is a classic risk-off move across asset classes as hopes for further progress toward de-escalation gave way to renewed uncertainty."
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
