MARKET WRAPS
Stocks:
European shares were surging on Monday after the U.S. and Iran reached an interim peace deal, paving the way for the reopening of the Strait of Hormuz and resumption of energy flows from the Gulf.
Following the agreement, markets were boosted by rises in most sectors but weighed by energy after oil prices fell. In early European trading, Brent crude fell more than 4%, while West Texas Intermediate futures were down 5%.
"This is good news for inflation , which should start tumbling monthly from June, and it could ease concerns about price pressures as we lead up to some major central bank action this week," XTB said.
The Bank of England is expected to leave its key interest rate unchanged Thursday, a decision that would likely see it mirroring the Federal Reserve but mark a parting of ways with the European Central Bank.
"We think those advocating for a hold at next week's meeting will signal that they remain open to tightening policy
later this year," Oxford Economics said.
Investors currently price in a total of 26 basis points of BOE rate rises in 2026, down 11 basis points from Friday's pricing, LSEG data show.
Later this week, Kevin Warsh will be chairing his first Federal Reserve meeting, where the central bank is widely expected to keep interest rates on hold. The Riksbank, Norges Bank and Swiss National Bank are also set to announce their decisions this week.
The Group of Seven leaders summit in France this week--which Trump is expected to attend--will also be closely watched.
Stocks to watch
Burberry's
turnaround is mostly complete, as the British luxury group enjoys continued sales momentum and market share gains, Berenberg said.
U.S. Markets:
Stock futures were set to rise on the first day of the trading week after the U.S. and Iran agreed to a tentative peace deal.
If oil falls below $80 in the near term, it would remove any reason for the Federal Reserve to raise interest rates, Jefferies said.
Investors will watch Fed Chair Kevin Warsh's first FOMC meeting on Wednesday for more cues on the path ahead.
Forex:
The euro recovered only modestly against the dollar, but remains below preconflict levels, according to LSEG.
The dollar fell. The currency's falls are likely to remain modest, ING said.
Sterling rose
but could fall if the Bank of England dampens the prospect of raising interest rates and U.K. political concerns rise, ING said.
Bonds:
Yields on eurozone government bonds declined
as investors lowered their expectations for the ECB raising interest rates after the U.S. and Iran reached an agreement to end conflict.
Treasury yields fell.
Energy:
Oil prices dropped
following the U.S. and Iran deal.
Although the Strait of Hormuz is on track to reopen to shipping following the U.S.-Iran deal, and the Brent spot price has fallen to $80, "massive challenges" await in normalizing oil production and transport logistics, Jyske Bank said.
Metals:
Gold futures rose more than 2% after the U.S. and Iran reached an interim deal.
Gold chart
Comex gold futures were likely eyeing resistance at $4,400
an ounce, based on the daily chart, RHB Retail Research said.
Copper
Copper prices were higher in early trade, supported by constrained supply. Import treatment charges for copper concentrate continue to fall and some smelters have already reduced production due to raw-material shortages, Dongwu Securities said.
Iron
Iron ore prices were higher in early trade amid positive sentiment after the U.S. and Iran struck a peace deal. However, iron ore prices could continue to be weighed amid strong global shipments and ample supply, Tongguan Jinyuan Futures said.
EMEA HEADLINES
U.K. to Ban Social Media for Under 16s
The U.K. plans to ban social media for children under the age of 16, ramping up pressure on Big Tech as more countries weigh restrictions to shield younger users from what they see as potentially harmful content.
The government said it would restrict livestreaming and communication with strangers for under 16s not just on social media, but across other online services like gaming sites. Those restrictions will be active by default for under 16s and 17-year-olds.
UniCredit Rejects Commerzbank's Claims of Unusual Tender Behaviour
UniCredit rejected Commerzbank's claims over unusual tender behaviour on the final day of its bid for the German bank.
Last week, Commerzbank said it had seen abnormal tender behavior connected to UniCredit's offer. After UniCredit disclosed a 10.95% acceptance level of its proposal, the German bank said it hadn't identified any institutional investor tendering shares into the offer. Commerzbank added that tendered shares are almost exclusively from entities connected to UniCredit.
Schneider Electric, Foxconn to Partner on AI Data Centers
France's Schneider Electric said it would partner with Taiwanese electronics giant Foxconn to develop artificial-intelligence data centers.
Schneider Electric said Monday that the collaboration will seek to help customers build and operate AI infrastructure with greater speed and efficiency. It will include work on closed-loop energy optimization, modular power and cooling assemblies.
Renault, Thales Team Up for Tactical-Vehicle Prototype for Armed Forces
France's Renault and Thales have partnered to produce a prototype of a tactical vehicle for land forces, as automakers gear up to collaborate with defense suppliers to play a larger role in weapons production.
The companies on Monday unveiled the 4 Troop, a multi-role civil vehicle equipped with data-processing capabilities, integrated systems to operate unmanned aerial and ground vehicles, and decision aids enabled by artificial intelligence.
GLOBAL NEWS
Oil Slides as U.S., Iran Reach Deal to Reopen Hormuz
Oil prices dropped on Monday after the U.S. and Iran reached an interim deal, marking the first major step toward ending a nearly four-month conflict that has roiled global energy markets.
In early European trading on Monday, Brent crude fell 5% to $82.96 a barrel, while West Texas Intermediate futures were down 5.7% to $80.07 a barrel. Natural-gas prices also tumbled, with the front-month Dutch TTF contract-the European benchmark-down 6.1% to 43.91 euros a megawatt hour.
Kevin Warsh Wants the Fed to Stop Explaining Everything
Kevin Warsh boiled down his advice for the Federal Reserve before an audience of investors last year. "Stop talking so much," he said. "More thinking, less talking."
For more than a decade, Warsh has argued that the Fed should say less. How much a central bank reveals about its thinking shapes mortgage rates, markets and the cost of borrowing for everyone.
U.S. and Iran Have Reached a Deal to Stop Fighting, Reopen Shipping
WASHINGTON-Iran and the U.S. have agreed on an interim peace deal, the two nations announced Sunday, a potentially major breakthrough after nearly four months of fighting that created global political and economic turmoil.
A deal is set to be signed Friday, President Trump and Pakistani negotiators said. Trump had earlier indicated he hoped a deal would be signed Sunday. Neither side provided a specific list of agreed-upon details in the deal.
Blood, Sweat and Corporate Sponsors: Trump Hosts White House Cage Fight
WASHINGTON-President Trump hosted a cage match at the White House on Sunday, turning the historic South Lawn into a sporting arena where fighters pummeled each other, surrounded by paid advertisements and thousands of fans.
The unprecedented event used some of the most iconic symbols of American power-the U.S. military, the White House and the Lincoln Memorial-to promote the Ultimate Fighting Championship, a company that stands to profit from the fight's far-reaching exposure.
Swiss Voters Reject Population Cap to Manage Immigration
Swiss voters on Sunday rejected a high-stakes proposal to impose a hard constitutional cap on the country's population, averting economic shock waves and a severe diplomatic rift with the European Union.
In a national referendum, 55% of voters and a majority of the 26 cantons opposed the "No to a Switzerland with 10 million!" initiative, spearheaded by the right-wing Swiss People's Party, or SVP.
Charlie Javice Has Been Seeking a Pardon From Trump After Defrauding JPMorgan
The entrepreneur Charlie Javice has been seeking a presidential pardon for her criminal conviction for defrauding JPMorgan Chase when she sold her company to the bank for $175 million, people familiar with the matter said.
Javice and people close to her have looked to solicit support from people close to the Trump administration for a possible pardon, the people familiar with the matter said.
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(END) Dow Jones Newswires
June 15, 2026 05:01 ET (09:01 GMT)
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