Global stock markets climbed on Monday as easing Middle East hostilities sent oil prices sharply lower and eased inflation worries ahead of a packed week of central bank meetings and earnings reports, reports Reuters.
Iran said on Sunday it would halt its own attacks as long as the United States did the same, with the US military reportedly concerned about dwindling supplies of ammunition. The lull in fighting over the Strait of Hormuz saw Brent crude slide 6.3 per cent to $90.70 a barrel, while US crude dropped 5.7 per cent to $84.12.
Stock markets across the globe staged a relief rally on Monday after intense fighting in the Middle East over the past week pushed oil prices to above $100 a barrel.
Europe's STOXX 600 climbed nearly 0.5 per cent, at one point, touching its highest since July 7. Economically sensitive retail and travel stocks rallied more than 2 per cent although a drop in oil stocks weighed on the broader market.
S&P 500 futures rose 0.9 per cent, while Nasdaq futures jumped 1.5 per cent. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent.
The euro edged up 0.23 per cent to $1.1395. Most major currencies also advanced against the dollar, as traders slightly pared back the probability of rate hikes from the Federal Reserve this week.
The dollar dipped 0.2 per cent against the yen to 163.53.
Chinese blue chips gained 1.2 per cent as chipmaker CXMT Corp surged nearly 500 per cent in its Shanghai trading debut after raising $8.6 billion in Asia's biggest initial public offering this year.
About one-third of S&P 500 companies are due to report this week, with earnings on track to boast a 26.5 per cent increase over last year, according to LSEG IBES data.
Global stocks climb after pause in Middle East fighting
FE Team | Published: July 27, 2026 23:47:50
Global stocks climb after pause in Middle East fighting
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