European markets opened in mixed territory on Tuesday as easing tensions in the Middle East helped steady investor sentiment across major indices.
The FTSE 100 slipped 0.27 per cent to 10,325.57, while France’s CAC 40 fell 0.23 per cent and Germany’s DAX declined 0.58 per cent in early trading.
US markets finished the previous session on a positive note, with the Nasdaq gaining 0.65 per cent and the S&P 500 adding 0.31 per cent overnight.
Investors continued to monitor developments around Iran-Israel ceasefire efforts and their potential implications for energy markets and broader risk appetite globally.
Commodity markets reflected improving geopolitical sentiment, with Brent crude falling 1.30 per cent as recent volatility tied to Middle East tensions began to ease.
Copper and natural gas advanced, while gold was little changed as demand for safe-haven assets softened alongside the improved geopolitical backdrop.
Sterling strengthened against the US dollar, euro, Japanese yen, Swiss franc and Australian dollar, while Bitcoin weakened against the pound, falling 0.37 per cent.
Housebuilder Bellway (LSE: BWY) reported that higher mortgage costs softened demand during the spring selling season, though reservation rates and cancellation levels remained broadly stable.
Despite affordability pressures weighing on buyer activity, Bellway maintained its full-year profit and completion guidance, signalling confidence in the underlying housing market outlook.
GSK (LSE: GSK) announced it has agreed to acquire US lung cancer specialist Nuvalent in a deal worth approximately £8 billion, significantly bolstering its oncology pipeline.
The transaction underlines GSK’s broader strategy of expanding its portfolio of targeted cancer treatments as competition in the oncology space intensifies among major pharmaceutical groups.
The Nuvalent acquisition positions GSK as a stronger player in the high-growth lung cancer treatment market, where targeted therapies have become an increasingly important area of drug development.
Back in equity markets, the divergence between US gains and European declines reflects differing regional exposures to geopolitical risk and energy price sensitivity at this stage of the year.
Analysts will be watching closely whether easing Middle East tensions translate into sustained downward pressure on crude prices, which would have significant implications for inflation expectations across major economies.
