Oil prices retreat and global stocks hit record highs after Trump hails ‘great progress’ on Iran deal – business live | Business

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Asian stock markets followed Wall Street’s lead and reached record highs, and oil prices retreated after this event. Donald Trump He praised the “major progress” towards a “final agreement” with Tehran.

Brent crude oil futures fell nearly 2% to $107.7 per barrel. The dollar lost 0.36 percent against a basket of major currencies.

The US president said last night that he was pausing ‘Project Freedom’, the US effort launched on Monday to remove stranded ships from the Strait of Hormuz, but added that the blockade of Iranian ports would continue. In a social media post, Trump said he made the move based on

“The tremendous Military Success we have achieved in the Operation against the Country of Iran, upon the request of Pakistan and other countries, as well as the fact that Great Progress has been Made Towards a Complete and Final Agreement with the Representatives of Iran”.

Iran has not yet commented.

MSCI’s All Country World Index reached a new record with an increase of 0.56%. The broadest index of Asia-Pacific shares outside Japan jumped 2.8% at one stage, but later fell 0.1%.

In South Korea, the Kospi rose nearly 8% to surpass the 7,000 level for the first time as the Seoul market reopened after the holiday. Samsung Electronics It increased its market value by 15% to over $1 trillion. Warren Buffet‘s investment firm Berkshire Hathaway and I approach the retailer Walmart. Japan’s Nikkei index was up almost 0.4%, Hong Kong’s Hang Seng index was up 0.8% and China’s CSI 300 and the Australian market were ahead 1.3%.

Stocks on Wall Street hit all-time highs on Tuesday; The S&P 500 index gained 0.8% and the tech-heavy Nasdaq Composite gained 1% amid a wave of AI-focused trading.

Chris WestonThe head of research at broker Pepperstone in Melbourne told Reuters:

Investors bought it and it remains among 2026’s winners. There was some buying in S&P 500 material stocks, but it was technology that continued to attract most flows, especially in the US. Apple and memory plays.

Agenda

• 09:00 BST: Eurozone services and composite PMIs for April

• 09.30 BST: UK services and April composite PMIs

• 13.15 BST: US ADP employment change for April