European and Japanese stocks gain on falling oil
Falling oil prices and expectations of reaching détente between the United States and Iran led to a rise in European and Japanese shares. The European Stoxx 600 index increased by 0.7%, marking its first weekly gain after three consecutive weeks of losses, supported by gains in AI-related companies and the travel and entertainment sectors. Meanwhile, oil prices declined, with Brent crude falling to $106.20 per barrel and West Texas Intermediate dropping to $93.59, amid reports of negotiations to end the US-Iran conflict focused on lifting sanctions and opening the Strait of Hormuz. In Japan, the Nikkei index rose by 1.3%, buoyed by tech stocks related to artificial intelligence and dividend-paying companies, as investor concerns were alleviated by positive expectations of an end to the war and increasing rapprochement between Washington and Tehran.
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