Live Markets: STOXX 600 finds its footing
05/05/2026 09:11
Adds new blog entry
STOXX 600 up 0.3%
Iran-U.S. fight for control of Strait of Hormuz
HSBC falls after profit miss
Wall St futures higher
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STOXX 600 FINDS ITS FOOTING
European shares have bounced a little on Tuesday after a selloff the day before after a re-escalation of hostilities in the Middle East.
The U.S. said it destroyed six Iranian small boats, while several merchant ships in the Gulf reported explosions or fires on Monday, as both try to wrestle for control of the Strait of Hormuz.
That had weighed on sentiment on Monday but risk appetite has improved on Tuesday with oil prices LCOc1 falling slightly.
The pan-European STOXX 600 .STOXX is up 0.3% after falling 1% on Monday.
Breadth is positive, with rising stocks outnumbering falling stocks by about two-and-a-half to one.
Most other major bourses are also firmly in the green, although Britain's FTSE 100 .FTSE is down 0.9%, playing catch up after it was closed on Monday for a public holiday.
AB Inbev ABI.BR shares are leading the way after the brewer reported a big revenue beat, driven by growth in brands such as Corona and Michelob Ultra.
An upgrade by Bank of America has pushed BT BT.L shares to their highest level since 2019.
On the downside, HSBC HSBA.L shares are down 5.5% after missing profit expectations due to an unexpected $400 million loss linked to a fraud case in Britain.
Here's your opening snapshot:
(Samuel Indyk)
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EARLIER ON LIVE MARKETS:
EUROPE BEFORE THE BELL: FUTURES SOFT AS TENSIONS RATCHET UP CLICK HERE
FREEDOM? WHAT FREEDOM? CLICK HERE
Oil-tanker traffic through the Strait of Hormuz https://www.reuters.com/graphics/AUTOMATED-20260502/HORMUZ-TRANSITS-1Y/byvrnngjjve/chart.png
Crude oil at sea https://www.reuters.com/graphics/AUTOMATED-20260504/CRUDE-OIL-AT-SEA-1Y/akveyydbovr/chart.png
European shares mostly higher, Wall St futures rise https://www.reuters.com/graphics/GLOBAL-STOCKS/egpbewybgvq/chart.png