44 min ago.20h18
Iranian President announces"end of 12-day war"
Iran is “ready to resolve issues with the US based on international law,” Iranian President Masoud Pezeshkian told Saudi Crown Prince Mohammed bin Salman on Tuesday in a phone call cited by Iran’s state news agency IRNA.
“A fair and reasonable agreement can be reached under international law,” Pezeshkian added, adding that “we hope that the Israeli regime – which is constantly provoking conflicts in the region – will be controlled within international frameworks.” He continued: “Iran seeks to strengthen unity and peace in the region.”
In another call, this time with Malaysia's prime minister, Masoud Pezeshkian reportedly said he is"ready to discuss, pursue and realize the legitimate rights of the Iranian people at the negotiating table," according to the Iranian Students' News Agency.
Israel and Iran appear to be honouring a ceasefire agreement unexpectedly announced by Donald Trump late on Monday, after the US president reacted angrily to reports of early violations of the deal by both sides.
“Today, after the heroic resistance of our great nation (...) we witness the establishment of a truce and the end of this 12-day war imposed by Israel's adventurism and provocation,” Pezeshkian said in a message broadcast by IRNA on Tuesday.
In addition to the statements made by the President of Iran, Israeli Prime Minister Benjamin Netanyahu also agreed to suspend further attacks on the country after a conversation with Trump, according to a statement from the Israeli Prime Minister's office cited by Bloomberg.
5:30 p.m.
João Duarte Fernandes joaomfernandes@negocios.pt
Europe closes in the green. Airlines boost indexes
Major European indexes closed with strong gains, boosted by higher airline prices, after President Donald Trump announced a ceasefire between Israel and Iran following 12 days of conflict between the two Middle Eastern countries.
The Stoxx 600 index - a benchmark for Europe - gained 1.11% to 5540.98 points.
Among the main Western European indexes, the German DAX advanced 1.60%, the Spanish IBEX 35 appreciated 1.41%, the Italian FTSEMIB added 1.63%, the French CAC-40 rose 1.04%, the British FTSE 100 gained 0.01% and the Dutch AEX jumped 0.85%.
“Geopolitics is likely to continue to dominate markets today,” Jefferies’ Mohit Kumar told Bloomberg. “Investors will be focused on whether the ceasefire holds,” he added, referring to the “fragile” ceasefire announced by Trump that has since been put to the test.
Despite this, the indexes held on to their gains after Israel destroyed a radar complex near Tehran, after the truce came into effect.
The recovery in European stock indexes has faltered this month as investors focus on persistent trade and economic uncertainty. On the tariff front, a 90-day pause announced by the U.S. on reciprocal tariffs is set to expire in early July, and Goldman Sachs strategists quoted by Bloomberg are predicting greater market volatility over the summer.
Among the sectors, all appreciated, with special emphasis on tourism (+4.27%) and banking (+3.04%).
In terms of market movements, chocolate producer Lindt & Spruengli fell almost 3% after Bank of America analysts downgraded the company to “neutral” (equivalent to “hold”). Holcim, a Swiss construction materials manufacturer, rose almost 7% after Morgan Stanley revised its recommendation upwards following the spin-off of its US unit.
Airlines have already benefited from the ceasefire in the Middle East, with Lufthansa, for example, soaring by more than 6%.
6:38 p.m.
Pedro Barros Costa pedrocosta@negocios.pt
Eurozone sovereign debt interest rates rise as demand for safe assets wanes
The instability in the Middle East was reflected in the European sovereign bond market, with most yields rising on Tuesday, after an almost generalized search for safer assets on Monday, which caused interest rates to fall.
Among the biggest increases was the yield on 10-year German Bunds - the benchmark for the Eurozone -, which rose 3.7 basis points to 2.541%. The French equivalent rose 2 basis points to 3.248%.
In the Iberian Peninsula, interest rates on Portuguese sovereign debt rose 1.3 basis points to 3.014%, while those in neighboring Spain rose 0.8 basis points to 3.202%.
Among the cuts, Italian yields fell 1.9 basis points to 3.460% and, outside the Eurozone, British Gilt interest rates fell 1.9 basis points to 4.471%.
15:57
Oil falls more than 5% despite fragile ceasefire between Israel and Iran
Oil prices continue to fall as fears over an escalation in the Middle East appear to have been contained for now. On Tuesday, West Texas Intermediate (WTI), the benchmark in the United States, fell 5.47% to $64.76 per barrel, while Brent, the European benchmark, fell 5.46% to $67.58.
The fall comes on the first day after the ceasefire between Israel and Iran, announced by Donald Trump. However, the atmosphere remains unstable. The US president accused both sides of violating the agreement just hours after announcing it, criticizing Israel in particular:"I didn't like that Israel reacted right after we made the agreement. It wasn't necessary and the retaliation was too strong," Reuters quotes.
Although the US President has assured that the ceasefire remains in force and that Israel will cease its attacks, Iranian forces have recorded two new explosions in Tehran and attacks in the north of the country. Iran is also being blamed for violating the ceasefire, although it has already denied it, due to the launch of 14 missiles towards Israel.
The market, which at the beginning of the week reacted with strong volatility to the possibility of the closure of the Strait of Hormuz, through which around 20% of global oil passes, now appears to interpret this as a reduction in the risk of disruptions to supply. Uncertainty persists, but there are no immediate signs of escalation. As SEB analyst Ole Hvalbye notes,"the geopolitical premium has lost strength, but tensions between Israel and Iran have not been resolved – the risk of miscalculations and further escalation remains."
15:52
João Duarte Fernandes joaomfernandes@negocios.pt
Dollar weakens as Israel-Iran ceasefire continues. Israeli currency hits 2023 highs
The dollar continued to trade with losses on Tuesday, with traders keeping an eye on a fragile ceasefire between Tehran and Tel Aviv announced by US President Donald Trump last night. Despite the depreciation, the greenback moderated its losses after US Federal Reserve Chairman Jerome Powell said the central bank was in no rush to cut interest rates.
The dollar index – which measures the strength of the US currency against its main rivals – is currently down 0.35% to 98.075 points.
The euro and yen are gaining ground against the dollar after the ceasefire announcement triggered a sharp drop in oil prices, with the European Union and Japan, unlike the United States, heavily dependent on imports of oil and liquefied natural gas.
At this time, the Japanese currency continues to advance against the dollar, at a time when the “green note” has depreciated 1.09% to 144.560 yen.
Here, the “single currency” gained 0.40% to 1.162 dollars, while the pound traded with gains of 0.88% to 1.364 dollars.
The Israeli shekel also recorded a strong recovery, rising 1.50% against the dollar at this time, to $0.295, after reaching its strongest value since at least February 2023.
15:49
Gold continues to decline since the start of the truce between Iran and Israel
This Tuesday, the prices of the golden metal began a retreat movement. With a decline of 1.86% to $3,305.70 per ounce, this is the lowest value of gold since the conflict between Israel and Iran broke out on July 13. The fall was driven by the ceasefire between the two countries, announced on Monday, which reduced the demand for safe-haven assets.
“Optimism surrounding the possibility of a ceasefire and a permanent solution to the conflict between Israel, Iran and the US has driven widespread gains in stock markets and penalised safe-haven assets such as gold,” explains Ricardo Evangelista, CEO of ActivTrades Europe.
Despite the fall, the precious metal could stabilize, as supporting factors such as economic uncertainty, central banks' gold purchases, tension in Eastern Europe and expectations of interest rate cuts by the Federal Reserve persist. Investors are also paying close attention to testimony from Jerome Powell, chairman of the US Federal Reserve, for clues about the direction of monetary policy.
2:49 p.m.
João Duarte Fernandes joaomfernandes@negocios.pt
Wall Street trades in the green, Powell and the Middle East take center stage
Major US indexes are trading higher after US Federal Reserve Chairman Jerome Powell reiterated his “wait and see” stance on whether to cut key rates, as investors appear increasingly confident that a fragile truce between Israel and Iran will hold.
The S&P 500 advanced 0.81% to 6,073.74 points, while the Nasdaq Composite added 1.04% to 19,836.02 points. The Dow Jones gained 0.87% to 42,950.74 points.
On the trade front, in statements to the US Congress, Powell said this Tuesday that “ the effects of tariffs will depend, among other things, on their final level ”. “For now, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance”, added the Fed chairman.
In addition to addressing Congress today, Powell will also speak before the House Financial Services Committee on Tuesday and the Senate Banking Committee on Wednesday. The remarks by the head of the US central bank come less than a week after policymakers agreed to keep interest rates unchanged for a fourth consecutive meeting.
With attention turning to the Middle East, indexes gained renewed momentum after US President Donald Trump announced a ceasefire between Israel and Iran after 12 days of conflict. Trump's call comes after the US bombed Iranian nuclear facilities over the weekend and Iran retaliated by firing missiles at US bases in the region, an attack seen by markets as"symbolic" and which sent crude oil prices tumbling.
Among the market movements, airlines such as American Airlines (+4.22%), United Airlines (+2.81%) and Delta Airlines (+2.53%) continue to trade higher, after the announcement of a ceasefire between Israel and Iran raised optimism regarding a potential decrease in airspace disruptions in the Middle East.
As for “ big tech ”, Alphabet rises 1.02%, Amazon appreciates 1.83%, Nvidia adds 1.47%, Microsoft advances 0.63%, Meta gains 1.53% and Apple adds 0.43%.
1:48 p.m.
Israel bombs Iran after Trump assures ceasefire remains in effect
Iranian media outlets have reported new airstrikes by Israel. So far, two new explosions have been reported in Tehran. There are also reports that the town of Babolsar, north of the capital, is under attack.
The attacks come shortly after Donald Trump said on Truth Social that Israel had halted its operations and that the ceasefire remained in effect. However, the US president criticized both countries for their actions just hours after the truce was announced.
In the early hours of Tuesday, Israel denounced the launch of several Iranian missiles against its territory, allegedly fired after the ceasefire began. In turn, Iran claims that the missiles were launched moments before the truce came into effect, as retaliation for Israeli attacks since June 13. According to the Reuters news agency, Israel is said to have launched 14 missiles aimed at Iranian military centers.
12:05 PM
Trump criticizes ceasefire violations and singles out Israel in particular
Speaking to reporters during his trip to the NATO summit in The Hague, Donald Trump said that both Israel and Iran had violated the ceasefire. The truce came into effect this morning, but just hours after the former US president's announcement, Israel denounced Iran's launch of several missiles.
Tehran has denied any attack, claiming in turn to have been targeted by three Israeli offensives. So far, there are no further confirmed details about the events.
According to Reuters, Trump was dissatisfied with the behavior of both sides, stressing that he was particularly disappointed with Israel, which"unloaded" immediately after the agreement."Now I have to get Israel to calm down," Donald Trump said as he left the White House.
"As soon as we reached an agreement, Israel showed up and dropped a bomb load like I've never seen before, the biggest load we've ever seen," he told reporters, noting that the"two countries that have been fighting for so long and so intensely that they no longer know what they're doing."
Meanwhile, the US leader has already spoken to Netanyahu on the phone and assures that the ceasefire remains in force:"Israel will not attack Iran. The planes will turn around and go home, while waving friendly goodbyes to Iran. No one will get hurt, the ceasefire is in effect!" he wrote in Truth Social.
Despite the tension, the former president took the opportunity to emphasize that Iran's nuclear capabilities had been “destroyed.”
11:51 am
Euribor drops to less than 2% at three months and rises at six and 12 months
Euribor fell today to less than 2% at three months and rose to six and 12 months compared to Monday.
With today's changes, the three-month rate, which fell to 1.997%, remained below the six-month (2.041%) and 12-month (2.110%) rates.
The six-month Euribor rate, which in January 2024 became the most widely used in Portugal for variable-rate housing loans, rose today, being set at 2.041%, up 0.005 points.
Data from the Bank of Portugal (BdP) for April indicate that the six-month Euribor represented 37.61% of the stock of loans for permanent homeownership with variable rates.
The same data indicate that the 12-month and three-month Euribor represented 32.46% and 25.60%, respectively.
In the 12-month period, the Euribor rate also rose, being set at 2.110%, 0.017 points more than on Monday.
In the opposite direction, the three-month Euribor, which was below 2% between May 30 and June 12, fell today to 1.997%, down 0.034 points.
In May, the monthly Euribor averages fell again in the three terms, less intensely than in previous months and more sharply in the shortest term (three months).
The Euribor average in May fell 0.162 points to 2.087% at three months, 0.086 points to 2.116% at six months and 0.062 points to 2.081% at 12 months.
At its last monetary policy meeting on 4 and 5 June in Frankfurt, the European Central Bank (ECB) cut interest rates by 0.25 basis points, with the main policy rate falling to 2%.
This reduction was the eighth since the ECB began this cycle of cuts in June 2024 and, according to analysts, it should be the last this year.
The ECB's next monetary policy meeting is scheduled for July 23-24 in Frankfurt.
Euribor is set by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
10:15
Catarina Almeida Pereira catarinapereira@negocios.pt
Markets breathe a sigh of relief as Iran-Israel truce brings green tide to Europe
The main European squares are painted green after the ceasefire announcement – and despite Israel having already said that the truce may be being violated.
The Stoxx 600, which groups together the largest European companies, recovered from the losses of recent weeks with an appreciation of 1.19% to 541.39.
At a time when a prolonged conflict scenario seems to be out of the question, all sectors are increasing in value, with particular emphasis on travel (+3.82%) and construction (+3.13%). The only two exceptions to the rule are the gas, electricity and water sectors (which fell by 0.22%) and, more significantly, oil and gas (which fell by 2.63%).
Among the main Western European indices, the German Dax rose 1.86%, the French CAC-40 appreciated 1.28%, the Italian FTSEMIB gained 1.24%, the British FTSE 100 rose 0.33% and the Spanish IBEX 35 appreciated 1.19%. In Amsterdam, the AEX recorded an increase of 0.94%.
Investors are “in the mood to buy the market and perhaps they are right since this crisis has not changed anything in terms of inflationary prospects nor triggered a recession”, says David Kruk, the “head of trading” at La Financiere de L’Echiquer, quoted by Bloomberg, in a statement in stark contrast to the gloomy outlook this Sunday.
“Geopolitics are likely to continue to dominate the market on Wednesday,” said Mohit Kumar, chief strategist at Jefferies, also quoted by the news agency. “Investors will be focused on whether the ceasefire holds or not.”
Shortly after Trump announced the “entry into force” of the ceasefire, Israel accused Iran of violating the truce by launching missiles. Iran denies this.
09:55
Eurozone interest rates start to rise without a clear direction after Middle East ceasefire
Eurozone sovereign bond yields remain flat on Tuesday without a clear trend. Investors' focus remains on the announcement of a ceasefire between Israel and Iran, after around two weeks of clashes.
After a session of widespread relief on Monday, debt markets start the day in mixed territory.
In Portugal, the interest rate on 10-year bonds fell 0.1 basis points to 3.001%. In Spain, the relief was 0.2 basis points to 3.192%, while Italian debt fell 1.7 points to 3.461%.
In opposite direction, the interest of French debt rose 0.4 basis points to 3.232%, and the German"bunds" worsened by 1.4 points, to 2.518% .
Outside the Eurozone, the British gilts also saw a rise , with the 10-year rate at advance 1.1 basis points to 4.501% .
09:31
Catherine Almeida Pereira catarinapereira@negocios.pt
Dollar continues to depreciate along with oil
The dollar continues to depreciate this Tuesday, after the announcement of a ceasefire between Israel and Iran, which is causing oil prices to fall.
The Bloomberg dollar index, which measures the greenback's strength against its main competitors, fell 0.261% to 98.155 points.
The Euro rose 0.11% against the US currency, with each euro now worth 1.1591 dollars. Two weeks ago, it reached its highest level since October 2021, at 1.1632 dollars.
The yen and euro benefit from the drop in oil prices, as the European Union and Japan rely on imports while the United States is a net importer.
Comments from Federal Reserve officials admitting a new interest rate cut, including Christopher Waller, also put pressure on the dollar.
09:29
Israel identifies Iranian missiles hours after ceasefire announcement, vows to respond"firmly." Iran denies it
To the Israel Defense Forces (IDF) reported the launch of several Iranian missiles towards Israelite territory, just hours after the announcement of a ceasefire between the two countries. The warning was issued via the IDF's official Telegram channel and air raid sirens sounded in several Israeli regions around two hours after Donald Trump's truce declaration.
This morning, Effie Defrin, spokeswoman for the Israeli forces, said in statements to local television that the army would remain vigilant in the face of possible violations of the agreement, which came into effect on Tuesday morning. With the missile launch detected, the spokesperson has already spoken out and revealed having given permission to the IDF to"respond firmly to the ceasefire violation by Iran with powerful strikes against regime targets in the heart of Tehran."
The Iranian state agency has already reported, however, that Tehran denies having fired missiles at Israel, but without giving further details.
The US President had described the confrontation between the two countries as the “ 12 day war ” and called for respect for the truce, stressing that any violation will compromise stabilization efforts in the region.
08:51
Oil falls 4% as ceasefire appears to be confirmed
The price of oil continues to fall after the ceasefire announcement made by the President of the United States, Donald Trump, who assures that Tehran and Tel Aviv have already accepted the proposal.
West Texas Intermediate (WTI) – the benchmark for the United States (US) – is down 4.07% at this time to $65.72 per barrel. Brent – the benchmark for the European continent – is down 4% to $68.62 per barrel.
“ Investors are now clearly convinced that the risk of a supply shock is in the rearview mirror. ”, said Chris Weston, head of research at Peperstone Group, as quoted by Bloomberg. “ The prospect of a long-term conflict with US involvement has been reassessed, giving the green light to add risk ”, he added.
Threatened by the possibility recommended by the Iranian parliament of closing the Strait of Hormuz – which ended up not materializing – oil prices opened yesterday rising, but the price increase slowed down throughout the day, marked by rises and falls, given the lack of a strong response from Iran.
Even the Iranian attack on military bases in Qatar was downplayed by the United States, with Trump thanking the US for the advance warning of the “very weak” attack on the military base. The announcement of a ceasefire “is already in effect”, he added moments ago, with the truce having been accepted by Israel and, according to Reuters, by Iran.
09:00
Countries in conflict agreed to ceasefire plan
Israel and Iran today accepted the ceasefire plan proposed by US President Donald Trump to put an end to"the 12-day war" that has affected the Middle East.
Israeli Prime Minister Benjamin Netanyahu said Israel had agreed a bilateral ceasefire with Iran in coordination with US President Donald Trump.
Iranian state television reported that the ceasefire came into effect at 7:30 a.m. (5:30 a.m. in Lisbon).
According to the US news agency Associated Press, a senior US presidential official, who insisted on anonymity, Donald Trump established direct contact with Israeli Prime Minister Benjamin Netanyahu to secure the ceasefire.
The US administration has said that Saturday's bombing of Iran's nuclear facilities helped push Israel to agree to a ceasefire and that Qatar helped broker the deal.
So far, it is unclear what role Iran's leader Ayatollah Ali Khamenei will play in the talks.
The Iranian leader previously said on social media that he would not surrender.
08:40
Gold plunges as Iran-Israel truce announced, hits lowest level in nearly two weeks
THE gold price gives ground, this Tuesday, pressured by lower demand for safe haven assets after the announcement of a ceasefire between Israel and Iran. The precious metal retreat 1.42% to $3,320.57 per ounce, reaching the v lowest value in almost two weeks.
“It seems there is a considerable geopolitical risk coming out of the market in the short term, after, of course, we have signs of a decrease in tension between the US and Iran,” said Ilya Spivak, director of global macroeconomics at Tastylive, quoted by Reuters.
The American President, Donald Trump , announced the truce through the Truth Social platform, stating that the goal is “a lasting end” to the conflict. The news was confirmed by Benjamin Netanyahu, who claimed to have achieved the objectives of the military operation on Iranian soil.
Despite today's pullback, gold has accumulated an appreciation of around 27% since the beginning of the year , driven by the search for refuge in a context of geopolitical tension, fears about the economic impact of the tariffs imposed by Trump and robust purchases by central banks.
07:53
Barbara Cardoso barbaracardoso@negocios.pt
The 12-day war between Israel and Iran appears to be over - and financial markets are cheering. Asian stock markets are in the green, with the MSCI Asia-Pacific index jumping 2% and posting its biggest gain in more than two months.
In China, the Shanghai Composite rose 1% and in Hong Kong, it advanced 1.8%. In Japan, the Topix added 0.8% and the Nikkei jumped 1%. In South Korea, the Kospi was the best performing market in the region, jumping 2.9%. In Australia, the S&P/ASX 200 jumped almost 1%. In Europe, the mood is also one of optimism after the agreement, with Stoxx 50 futures jumping 1.5%.
US President Donald Trump, stated that Israel and Iran have reached an agreement for a ceasefire, generating expectations that there will be a lasting pause in the Middle East conflict. The agreement is already in force, Trump later stressed, and he also called on both parties not to violate it. .
Trump's remarks came as a surprise to the market, as hours earlier Iran had attacked a US base in Qatar - an attack that had been signaled in advance and was largely considered symbolic. The announcement of a truce between Iran and Israel follows a volatile period in which financial markets have been plunged into uncertainty for nearly two weeks due to fears of an escalation of the conflict.
“Following President Trump’s announcement of an interim ceasefire, market uncertainty has temporarily eased,” Tomo Kinoshita, a strategist at Invesco Asset Management, told Bloomberg. “Going forward, market transparency regarding future developments remains limited, and whether this interim ceasefire leads to a permanent agreement will be the key factor,” he added.
07:30
Agnes Santinhos Gonçalves inesgoncalves@negocios.pt
Truce between Iran and Israel in effect, says Trump. Tel Aviv and Tehran have agreed to ceasefire
The US President announced this morning that the ceasefire between Israel and Iran is now in effect and called on both countries not to violate the truce. The announcement comes just hours after Iran launched a series of missiles at Israel, an attack in which four people are believed to have died.
"The ceasefire is now in effect. Please do not violate it!" he wrote on the social network Truth Social. Trump had already announced last night that the ceasefire would go ahead this morning. .
The Iranian news agency SNN reported this morning that Tehran fired the last round of missiles before the ceasefire came into effect.
Israeli Prime Minister Benjamin Netanyahu has confirmed, however, that has already informed the US that it accepts the truce. There also appears to be an agreement on Iran's side, although it has not been officially confirmed: Reuters quotes an unidentified official as indicating that the country has accepted the ceasefire. The agency also says that the Qatari prime minister managed to secure the agreement from Tehran, following the attack on the US base in Qatar.
