U.S. President Donald Trump said on Monday that he had paused a planned attack on Iran after Tehran sent a peace proposal to Washington. He said there was now a “very good chance” of reaching a deal to limit Iran’s nuclear programme.
European shares edged higher on Tuesday (19 May) after investors reacted positively to reports that the United States had paused a planned strike on Iran following Tehran’s latest peace proposal, raising hopes that an agreement could be near.
U.S. President Donald Trump said there was now a “very good chance” of securing a deal to curb Iran’s nuclear programme. Oil prices dropped by as much as 2%, although they remained above $100 per barrel, while bond markets steadied after heavy selloffs in recent sessions.
The pan-European STOXX 600 gained 0.2% to 611.22 points by 07:02 GMT, though it remained below levels seen before the conflict.
European markets have underperformed compared with global peers, largely due to the region’s reliance on imported oil, while U.S. and international markets have been buoyed by optimism surrounding artificial intelligence.
The AI-driven rally in technology stocks will face another key test on Wednesday when Nvidia, the world’s most valuable company, releases its quarterly earnings.
Among individual stocks, Standard Chartered slipped 0.8% after announcing plans to cut more than 7,000 jobs over the next four years as it increases the use of AI.
Meanwhile, Vallourec fell 10.3% after ArcelorMittal sold a secondary 10% stake in the French steel pipe maker at a discount.
Iran’s latest proposal to the United States includes calls for the removal of sanctions on Tehran, the release of frozen Iranian assets and an end to the country’s maritime blockade, Deputy Foreign Minister Kazem Gharibabadi said on Tuesday (19 May), according to Iran’s state-run Islamic Republic News Agency.
The proposal also calls for an end to conflicts across the region, including in Lebanon, the withdrawal of U.S. forces from areas near Iran and compensation for damage caused by the war, Gharibabadi added.
Lebanon’s Health Ministry says more than 3,000 people have now been killed since fighting between Israel and Hezbollah escalated in early March.
Officials claim that at least seven people were killed on Monday alone in strikes carried out across the country, despite a U.S.-backed ceasefire extension announced just days earlier.
Among those killed was a senior figure in the Palestinian Islamic Jihad movement, after an Israeli air strike targeted an apartment building in the town of Douris in eastern Lebanon’s Baalbek district.
Hezbollah claims its fighters conducted 14 separate attacks on Israeli forces in southern Lebanon on Monday.
In a statement, the group said the operations involved explosive drones, rockets, and artillery fire, targeting concentrations of Israeli troops and military vehicles across several border towns and valleys in Lebanon.
Drones used by the Hezbollah group are restricting nearly 80% of Israeli military operations in southern Lebanon, Israel’s public broadcaster KAN reported Monday.
KAN said the Israeli military assessed that explosive-laden drones had sharply reduced the army’s operational freedom in southern Lebanon alongside casualties among troops.
Israeli Prime Minister Benjamin Netanyahu convened his security Cabinet on Monday to discuss the possibility of renewed fighting with Iran, according to Hebrew media.
The Israel Hayom daily said the meeting came after Netanyahu held a similar Cabinet discussion Sunday following a phone call with U.S. President Donald Trump to coordinate the “next step” regarding Iran.
It quoted a source familiar with U.S. discussions as saying a new American strike on Iran was “not a question of if, but when.”
U.S. President Donald Trump said on Monday that Washington would be satisfied with an agreement preventing Iran from obtaining a nuclear weapon.
Hours earlier, he said he had postponed a planned military attack on Iran to allow negotiations with Tehran to continue.
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The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
U.S. and Iranian officials said they had agreed on a framework to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Iran's nuclear program to further negotiations.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior Iranian official told Reuters that a draft memorandum with the U.S. covers issues including Iran’s nuclear programme, reopening the Strait of Hormuz, and U.S. waivers on oil sanctions, with further negotiations expected within 60 days of an initial agreement.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
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