NEW YORK, May 12, (V7N) – Global stock markets mostly advanced Monday, while oil prices surged, following US President Donald Trump’s rejection of Iran’s terms for ending the Middle East war.

Wall Street’s three major indices ended the day modestly higher, shrugging off the geopolitical tensions. “Basically, the market has decided that geopolitics are just background noise right now,” said Steve Sosnick of Interactive Brokers, describing the trading as “very momentum-driven.”

In Europe, London’s FTSE 100 and Frankfurt’s DAX 30 rose, while Paris’s CAC 40 fell due to weak growth warnings in the luxury sector.

The deadlock between Washington and Tehran dashed hopes for an immediate peace deal and stoked fears of further violence and oil supply disruptions via the Strait of Hormuz. Trump called Iran’s response to the US peace proposal “TOTALLY UNACCEPTABLE” on social media, while Iran demanded the release of frozen assets and an end to the US port blockade.

Oil prices initially jumped over four percent before easing slightly, with Brent crude closing up nearly three percent at $104.21 a barrel. Kathleen Brooks, research director at XTB, said, “The price of oil remains highly reactive to news around the reopening of the Strait of Hormuz, both positive and negative.”

Analyst Patrick O’Hare of Briefing.com added that traders expect Trump to avoid actions that could further disrupt oil supply ahead of his summit with Chinese President Xi Jinping this week. Beijing has indicated a willingness to work with Washington for “more stability,” despite ongoing disputes over trade, the Middle East conflict, and Taiwan.

In Asia, markets showed mixed results. Tokyo stocks fell, Hong Kong was largely unchanged, Shanghai climbed more than one percent, and Seoul rose around four percent, driven by strong tech earnings and optimism about artificial intelligence. Nintendo shares plunged nearly 10 percent after the company forecast lower profits and announced a price increase for its Switch 2 console.

Key Market Figures (close at ~2010 GMT)

  • Brent crude: $104.21/barrel, UP 2.9%
  • WTI: $98.07/barrel, UP 2.8%
  • Dow Jones: 49,704.47, UP 0.2%
  • S&P 500: 7,412.83, UP 0.2%
  • Nasdaq Composite: 26,274.13, UP 0.1%
  • FTSE 100: 10,269.43, UP 0.4%
  • CAC 40: 8,056.38, DOWN 0.7%
  • DAX 30: 24,350.28, UP 0.1%
  • Nikkei 225: 62,417.88, DOWN 0.5%
  • Hang Seng: 26,406.84, UP 0.1%
  • Shanghai Composite: 4,225.02, UP 1.1%
  • Euro/USD: 1.1775, DOWN
  • Pound/USD: 1.3628, DOWN
  • Dollar/Yen: 157.23, UP
  • Euro/Pound: 86.40 pence, UP

Despite the ongoing Middle East crisis, global equities remain resilient, supported by strong tech sector earnings and momentum trading.

END/WD/RH