European Shares Show Little Change After Asian Markets Rise on US-Iran Talks Hopes

Australia's S&P/ASX 200 was little changed, inching up less than 0.1% to 8,978.70. South Korea's Kospi jumped 2.1% to 6,091.39. Hong Kong's Hang Seng edged up 0.3% to 25,947.32, while the Shanghai Composite added less than 0.1% to 4,027.21. Benchmark U.S. crude fell 33 cents to $90.95 a barrel.

Brent crude added 24 cents to $94.99. The prices remained above the roughly $70 level from before the war began in late February but below the peak of $119.

Blockages in the Strait of Hormuz, a key waterway for Persian Gulf oil exports, have restricted global oil supplies and driven up prices. Asian nations rely heavily on this route for crude oil imports. Lower oil prices reduce costs for businesses worldwide.

Hopes for de-escalation stem from reports of potential renewed talks after an initial attempt ended without agreement. >"The counterintuitive decline in crude appears driven by growing hopes that a second round of peace talks between Washington and Tehran could soon materialize, after the first attempt fizzled out. U.S.

Officials stated that a second round of talks could occur over the next two days. U.N. Secretary-General António Guterres said it’s “highly probable” that talks will restart. These statements contributed to the market optimism.

Forecasts and Currency Movements The International Monetary Fund reported that global inflation is projected to accelerate to 4.4% this year from 4.1% in 2025. The IMF also downgraded its forecast for global economic growth to 3.1% this year from the 3.3% it had forecast in January.

In currency trading, the U.S. dollar edged down to 158.76 Japanese yen from 158.79 yen. The euro cost $1.1791, down from $1.1797. These shifts occurred alongside the stock and oil market activities. The ongoing war continues to affect global energy markets and economic outlooks.

Renewed talks could potentially ease supply disruptions if successful, though the conflict remains active.

Market participants are monitoring developments for further impacts on trade and inflation.