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European Movers Winners: Sika (SIKA SW) +7.9% Givaudan (GIVN SW) +3.8% Stellantis (STLAM IM / STLAP FP) +2.4% Losers: Imperial Brands (IMB LN) -4.2% LVMH (MC FP) -2.4% BP (BP/ LN) -1.3% Publicis (PUB FP) -0.5%

Morning all! - The US is reportedly eyeing a potential second round of in-person talks with Iran as the blockade takes hold, according to CNN. - AP reported that the US and Iran could be headed toward a second round of talks, which could happen on Thursday. - US VP Vance said we made some progress in Iran talks, and he wouldn't say things went wrong, while he added Iranians moved in our direction in talks, but not far enough. - A US official said there is “continued engagement” with Iran and forward motion on trying to get to an agreement, while a senior US official also said talks between the US and Iran are continuing even now and there is progress in trying to reach an agreement, according to Axios. - An IRGC spokesperson said that if the war continues, they will unveil capabilities that the enemy has no idea about, according to SNN. - APAC stocks traded higher as risk sentiment was underpinned by hopes regarding US-Iran peace talks; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4%. - Looking ahead, highlights include Swedish CPIF Final (Mar), German Wholesale Prices (Mar), Spanish HICP Final (Mar), US NFIB Business Optimism Index (Mar), ADP Weekly Change, PPI (Mar), South Korean Export/Import Prices (Mar), IEA OMR (Apr), IMF World Economic Outlook Press Briefing (Apr). Speakers include BoE's Mann, Bailey & Greene, ECB's Lane, Cipollone & Lagarde, RBNZ's Breman, Fed's Goolsbee, Barr, Paulson, Collins & Barkin, Supply from the Netherlands & Germany. Earnings from JPMorgan Chase, BlackRock, Citi, J&J, Wells Fargo, BMW & Kering.

Asia-Pac stocks are higher following the rebound on Wall St, amid optimism regarding US-Iran peace talks which are said to remain ongoing and with the sides reportedly discussing another round of face-to-face discussions: ASX 200 (+0.8%), Nikkei 225 (+2.2%), KOSPI (+2.6%)

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🇺🇸US pre-market movers🇺🇸 ES -0.7% NQ -0.7% RTY -1% Mag-7: $MSFT -0.3% $AAPL -0.5% $TSLA -0.6% $AMZN -1% $META -1.1% $GOOGL -1.1% $NVDA -1.4% $GS -3.2%: FICC sales & trading rev. light & provision for credit losses rises; note, EPS, rev., NII topped $LEG +6.7%: To be acquired by SGI in an all-stock transaction valued at approx. $2.5bln $TLX +3.5%: W/ REGN to co-develop & co-commercialise next-gen radiopharmaceutical therapies; TLX to receive $40mln upfront & up to $2.1bln in milestones $ON +3.2%: Upgraded at BofA $BX +2%: Upgraded at Oppenheimer $SNDK +1.6%: Will join the Nasdaq 100 index, replacing TEAM, effective BMO on 20th April $BKR +1%: Will sell Waygate Technologies to Hexagon for c. $1.45bln $CSGP -0.1%: Third Point will not pursue a proxy fight at CoStar & sold its entire stake $BBY -3.3%: Downgraded at Goldman $GFL -3.8%: Confirmed to buy Secure Waste Infrastructure for more than CAD 6bln, incl. debt $REPL -62%: FDA rejected its melanoma treatment

European Movers Winners: BP (BP/ LN) +1.7% Schindler (SCHP SW) +1.0% Loser Lufthansa (LHA GY) -3.5% Rio Tinto (RIO LN) -1.0% GSK (GSK LN) -0.7%

Morning all! - The US delegation, led by Vice President Vance, left US-Iran talks in Pakistan to return to the US without an agreement after 21 hours of talks. - US President Trump said the US Navy will begin the process of blockading any and all ships trying to enter or leave the Strait of Hormuz. - US Central Command said it will begin implementing a blockade on all maritime traffic entering and leaving Iranian ports on April 13th at 17:00 Israeli time (15:00BST/10:00EDT). - Crude futures surged with Brent crude back above the USD 100/bbl level following the failure of US-Iran talks in Islamabad and with the US to begin a naval blockade in the Strait of Hormuz. - APAC stocks declined; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.4%, off worst levels. - Looking ahead, highlights include US Existing Home Sales (Mar), OPEC MOMR (Apr). Speakers include ECB's de Guindos, RBA's Hauser & Fed's Miran. Earnings from Goldman Sachs & LVMH.

ASIA-PAC MARKET UPDATES #NewsquawkAnalysis For more details and/or questions about a specific asset, please contact the desk via the Newsquawk analyst chat 👇 Live 24hr global squawk of market trading news with audio

Asia-Pac stocks begin the week lower as oil surges following failed US-Iran talks in Islamabad and President Trump's announcement of a US naval blockade in the Strait of Hormuz: ASX 200 (-0.7%), Nikkei 225 (-0.7%), KOSPI (-1.9%)

🇺🇸US pre-market movers🇺🇸 ES +0.1% NQ +0.1% RTY flat $AAPL -0.7%: Led global smartphone shipments in Q1, +5% Y/Y, even as overall shipments fell due to a shortage of memory components $META +0.6%: Upgraded at CFRA $NKE -0.6%: Downgraded at Piper Sandler $LITE +5.5%: Demand from US hyperscalers for its optical components is accelerating & on track to fill its order books through ‘28 $NOW -1.6%: Downgraded at UBS Citi "turning more selective" in the application software group w/ 6 downgrades; $SMWB -3.4% $DOCU -2.2% $VEEV -1.4% $NICE -1.4% $ADSK -1% $CCC -0.9% Mizuho reiterated ‘Outperform’ rating on memory, storage group & raised PT on some names incl. $SNDK +2.5% & $WDC +1.7%

European Movers Winners: Alstom (ALO FP) +2.3% Holcim (HOLN SW) +2.0% Unite (UTG LN) +1.9% STMicroelectronics (STMPA FP) +1.8% ASML (ASML NA) +0.6% Losers: Sodexo (SW FP) -17.1%

Happy Friday all! - US President Trump said he is optimistic that an Iran peace deal is within reach, while he added that Iran’s leaders talk much differently when at a meeting than they do to the press, and they are much more reasonable. - US President Trump posted, "There are reports that Iran is charging fees to tankers going through the Hormuz Strait — They better not be and, if they are, they better stop now!" - An informed source stated Tehran rules out the option of negotiating with Washington until a complete ceasefire is established in Lebanon, and has strongly asserted this position. - An Israeli official said they will scale back operations in Lebanon in the coming days due to US pressure, according to Channel 13. - APAC stocks were mostly higher following the gains on Wall Street; European equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 0.6%. - Looking ahead, highlights include German Inflation Final (Mar), Norwegian Inflation (Mar), Swedish GDP (Feb), Canadian Jobs Report (Mar), US Inflation (Mar), University of Michigan Consumer Sentiment Prelim. (Apr), Comments from ECB's de Guindos, Supply from Italy, Credit Ratings updates including Moody's on France, S&P on the UK & Scope Ratings on Hungary.

ASIA-PAC MARKET UPDATES #NewsquawkAnalysis For more details and/or questions about a specific asset, please contact the desk via the Newsquawk analyst chat 👇 Live 24hr global squawk of market trading news with audio

Asia-Pac stocks are mixed following the gains on Wall St, where markets extended on the ceasefire-driven momentum, despite strikes continuing in the region: ASX 200 (-0.6%), Nikkei 225 (+1.3%), KOSPI (+2.0%)

🇺🇸US pre-market movers🇺🇸 ES -0.3% NQ -0.2% RTY -0.7% Mag-7: $AMZN +0.9% $META +0.8% $MSFT flat $TSLA -0.3% $AAPL -0.5% $NVDA -0.7% $GOOGL -0.8% $CRWV +8%: Co. & META announce $21bln expanded AI infrastructure agreement $MRVL +2%: Upgraded at Barclays $AA +1.1%: Upgraded at MS $DIS -0.3%: Planning to layoff as many as 1k employees in the coming weeks $CAT -0.7%: CFO to retire, effective 1st Oct. $STZ -0.8%: Withdrew FY28 outlook; pointed to subdued demand & ongoing uncertainty in op. environment $APLD -1.4%: Net loss widened from last year due to rising expenses & a charge tied to its cloud business $ZS -3%: Downgraded at BTIG

European Movers: Winners: Shell (SHEL LN) +1.1% Fagron (FAGR BB) +1.1% Lloyds (LLOY LN) +0.7% Unilever (ULVR LN) +0.6% Losers: Kering (KER FP) -0.6% Pernod Ricard (RI FP) -0.2%

Morning all! - US President Trump threatened massive military escalation if Iran deal terms are not met, vowed no nuclear weapons and to secure the Strait of Hormuz. - Iran’s Parliament Speaker Ghalibaf said three clauses of the 10-point plan have been violated so far, and as such, a bilateral ceasefire or negotiations is unreasonable. - IRGC claimed on Thursday that shipping through the Strait of Hormuz slowed sharply and then stopped following what it said was an Israeli ceasefire violation in Lebanon, according to CNN. - FOMC Minutes stated that many said persistently higher oil prices could keep inflation elevated long enough to justify rate rises. - APAC stocks were lower in a mild pullback from yesterday's ceasefire-fuelled extremes; European equity futures indicate a marginally lower open with Euro Stoxx 50 futures down 0.1%. - Looking ahead, highlights include German Trade Balance (Feb), Industrial Production (Feb), US Initial Jobless Claims (Apr/04), PCE Final (Feb), GDP Final (Q4), Atlanta Fed GDP, NBP Policy Announcement, Banxico Minutes. Comments from SNB's Schlegel. Supply from Spain, UK & US.

ASIA-PAC MARKET UPDATES #NewsquawkAnalysis For more details and/or questions about a specific asset, please contact the desk via the Newsquawk analyst chat 👇 Live 24hr global squawk of market trading news with audio

Asia-Pac stocks are lower in a mild pullback after the prior day's ceasefire-spurred bonanza: ASX 200 (-0.5%), Nikkei 225 (-0.3%), KOSPI (-0.8%)