Oil price falls back and markets recovering after Iran announces ‘end of military operations’ against Israel – business live
Summary
Iran announced it is ending its military actions against Israel, which led to oil prices falling from recent highs and stock markets recovering in Europe. This news helped government bond prices rise and lowered interest rates on debts in the UK, US, and eurozone.Key Facts
- Iran’s military command said it is stopping offensive operations after clashes with Israel.
- Brent crude oil price fell from $98 a barrel to about $94.58 a barrel.
- European stock markets moved from losses to slightly higher levels, shown by the Stoxx 600 index.
- Government bond prices increased, causing yields (interest rates) in the UK, US, and eurozone to go down.
- President Donald Trump asked both Iran and Israel to stop shooting immediately.
- Nationwide’s CEO Debbie Crosbie’s pay nearly doubled to £4.7 million after a bonus scheme change.
- Nationwide is asking its members to vote on the CEO’s pay report and board changes on July 13.
- A recent tech stock sell-off was described by analysts as a needed market reset after strong gains.
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