Global stocks rise and oil price slips amid hopes of US-Iran peace deal - business live
Stocks rose and oil fell as markets bet on a possible US-Iran truce renewal. European inflation data and an Ocado-Asda software deal also moved markets.
Intelligence analysis by GPT-5.4 Mini
Global markets are reacting to hopes of a 60-day US-Iran truce renewal, with equities firmer and oil heading for one of its biggest monthly drops. The live blog also tracks hotter French inflation, Spanish price data, and a big Ocado software deal with Asda.
Markets are like a big room full of people guessing what will happen next. Right now, they think a deal could calm things between the US and Iran, so share prices are rising and oil is getting cheaper.
Cheaper oil can matter because oil affects fuel, shipping, and many prices in shops. If oil falls, some costs can ease, like a delivery truck using less expensive gas.
The story also says prices in France and Spain are still rising faster than hoped. That matters because central bankers may have to think hard about whether to keep rates high or change them.
Analysis
Market reaction
Asian and European shares rose as traders focused on reports that the US and Iran may be close to renewing a 60-day truce. At the same time, oil prices slipped, with the live blog noting that crude was on track for one of its biggest monthly drops ever.
Inflation and rates
The European data flow added another layer to the market picture. France’s inflation rate accelerated to 2.8% in May, its fastest pace since 2024, while Spain’s May reading came in at 3.6%. The blog says these figures are being watched closely as the ECB considers how much the Middle East conflict is affecting inflation.
Company news
Away from macroeconomics, Ocado shares jumped after Asda said it will use Ocado software for all home deliveries from next year. The arrangement also covers deliveries placed through apps such as Uber Eats, Deliveroo and Just Eat, plus click-and-collect orders.
Bigger picture
The live coverage frames the day around three linked forces: geopolitics, inflation, and rates. A softer oil price can ease pressure on consumers and central banks, but stronger inflation prints in Europe keep the rate outlook uncertain.
Key points
- Stocks in Asia and Europe rose on hopes of a possible US-Iran truce renewal.
- Oil prices fell and were heading for one of their biggest monthly drops ever.
- France inflation accelerated to 2.8% in May, its fastest pace since 2024.
- Asda will use Ocado software for home deliveries from next year, lifting Ocado shares.
- The live blog ties geopolitics, inflation, and interest-rate expectations together.
