The UK economy expanded by a stronger-than-expected 0.5% in February, but the subsequent Middle East conflict has introduced uncertainty, leading to increased bond market volatility and impacting the FTSE 100.
Pakistani mediators arrived in Tehran to revive US-Iran peace talks, with hopes for extending a two-week ceasefire and reopening the Strait of Hormuz, a critical oil-shipping lane.
President Trump announced upcoming talks between Israeli and Lebanese leaders, a claim met with skepticism by Lebanese officials, as satellite images show over 1,400 buildings destroyed in southern Lebanon by Israeli demolitions.
EasyJet projects first-half losses due to Middle East conflict disruption, while Tesco cautions on future profits; government scenarios suggest potential carbon dioxide supply issues impacting food production.
Dated Brent crude trades near $117/barrel as Hormuz disruptions tighten physical oil markets; Pakistan faces power outages from LNG shortfalls, and Spirit Airlines' bankruptcy exit is complicated by surging jet fuel prices.
During his Cameroon visit, Pope Leo XIV urged dialogue for peace and development while criticizing the US-Israeli war on Iran, prompting US Vice President JD Vance to warn the pontiff to "be careful.
China's economy expanded by 5% in the first quarter, driven by robust exports and infrastructure spending, though foreign investors continue to sell Chinese bonds and the Middle East conflict clouds the outlook.