European Shares Seen Tad Higher As Trump Delays Iran Strikes

(RTTNews) - European stocks are seen opening a tad higher on Friday after U.S. President Donald Trump said he would delay a threatened strike on Iran's energy infrastructure and extend his deadline for Tehran to reopen the Strait of Hormuz until April 6, adding talks with Iran were going "very well."

However, an Iranian official described the proposal for ending the war as "one-sided and unfair."

The Pentagon is reportedly considering sending up to 10,000 additional ground troops to the Middle East. Iran's local media reported that the country is mobilizing more than one million ground troops to fight against the United States.

The Middle East conflict showed no signs of easing as fresh strikes were reported in Iran, Israel and Lebanon. Israel struck key infrastructure at multiple locations inside Iran, while Iranian missiles targeted Israel and the UAE.

The U.S. has deployed uncrewed drone speedboats for patrols as part of its operations against Iran, Reuters reported as Iran seeks to establish a system of approved passage for ships through the crucial waterway.

Asian markets were mixed, reversing some early losses as oil prices remained on track for their steepest weekly fall in six months following talks of de-escalation.

Brent crude prices fell nearly 1 percent below $107 a barrel and were down more than 4 percent for the week after Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week.

Additionally, Treasury Secretary Scott Bessent said Thursday that that an insurance program aimed at boosting shipping through the waterway would begin soon.

Gold jumped 1.5 percent to $4,443 an ounce after falling nearly 3 percent in the previous session. The dollar softened as the Japanese yen edged higher on intervention fears.

U.S. 10-year Treasury yields have surged to around 4.42 percent, raising concerns about the outlook for interest rates and financial conditions.

Overnight, U.S. stocks fell by the most since the beginning of Iran war amid uncertainty over the situation in the Middle East.

Tehran rebutted the U.S. president's fifteen-point ceasefire proposal and responded with conditions of its own.

President Donald Trump claimed that Iranian negotiators were "begging for a deal" and "they better get serious soon, before it is too late, because once that happens, there is NO TURNING BACK, and it won't be pretty!"

Gulf countries have issued a joint statement condemning Iran's "criminal" attacks on their energy infrastructure, signaling a readiness to act in "self-defense" and reaffirming their right to "take all necessary measures to safeguard sovereignty, security, and stability."

As the West Asia crisis deepens, OECD and the Asian Development Bank both cautioned against the adverse impact of energy prices on inflation and global growth.

OECD predicted that the average inflation rate for G20 countries this year would rise to 4 percent, up from its December prediction of 2.8 percent.

The tech-heavy Nasdaq Composite slumped 2.4 percent to confirm a correction and the S&P 500 plunged 1.7 percent to reach its lowest level since early last September, while the Dow declined 1 percent.

European stocks snapped a three-day winning streak on Thursday as heightened geopolitical tensions and rising energy prices stoked concerns of a possible rate hike by the European Central Bank.

The pan European Stoxx 600 dropped 1.1 percent. The German DAX lost 1.5 percent, France's CAC 40 shed 1 percent and the U.K.'s FTSE 100 gave up 1.3 percent.