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IEA warns: if Strait of Hormuznot fully reopened “within weeks, not months”, global economy will suffer as stocks run out

Report by Renta 4 European markets opened lower (Eurostoxx futures down 0.8%, S&P 500 down 0.8%, Nasdaq 100 down 1.6%), with profit-taking continuing, particularly amongst chip and memory manufacturers (yesterday Nasdaq down 1.6%), and this is also being felt in Asia (Japan down 5%; South Korea closed for a public holiday), despite strong results in recent days (TSMC, Samsung) and in a market that is questioning the sustainability of valuations,…

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Tensions between Trump and rest of world flaring up again, but IMF believes global economy has weathered war better than expected

Report by Renta 4 European markets opened higher (Eurostoxx 50 futures up 1%) following a session on Wall Street that started slowly but ended strongly, leading to a recovery of 1%–1.5% in the main US indices, as well as gains in futures (S&P 500 and Nasdaq 100 up 0.2%–0.3%). All this despite the escalating tensions between the US and Iran, which have pushed Brent crude up by 9% over the…