Uncertain prospects for US-Iran negotiations; European stocks fluctuate early on

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The prospects of the US-Iran negotiations remain unclear, with European stock markets showing mixed developments in the early session.

As of 4:30 PM Hong Kong time, the UK FTSE 100 index is at 9990 points, up 17 points or 0.18%; the German DAX index is at 22550 points, down 62 points or 0.28%; the French CAC 40 index is at 7764 points, down 4 points or 0.06%; and the Italian FTSE MIB index is at 43757 points, up 56 points or 0.13%.

Dow futures are currently at 46300 points, up 70 points.

US President Trump stated that at the request of the Iranian government, he will extend the deadline for US-Iran negotiations to April 6, and the pause on US and Israeli attacks on Iranian energy facilities will be extended until 8 PM Eastern Time on April 6.

Reuters quoted a senior Iranian official as saying that the agreement proposed by the US is one-sided and unfair, stating that the plan requires Iran to abandon its self-defense capabilities in exchange for a vague sanctions relief plan, which does not meet the minimum requirements for success.

Macquarie’s report indicates that if the war with Iran continues into June, and the critical shipping route of the Strait of Hormuz remains closed, oil prices could reach record highs of $200 per barrel.

Oil prices are rising, with New York crude futures currently at $95.13 per barrel, up $0.65 or 0.69%; London Brent crude is at $102.65, up $0.79 or 0.78%.

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