However, it should be remembered that the agreement itself, which has not yet been adopted at the time of writing this comment, is still being analyzed by Iran and may not be accepted at all.
The key U.S. demands regarding the nuclear program and the reopening of the Strait of Hormuz remain unresolved.
For this reason, in the following hours Brent oil returned above $100 per barrel.
European markets were in very good spirits. The German DAX ended the day up 2.12%, while the French CAC40 gained 2.94%.
Domestic markets also reflected positive sentiment.
WIG20 ended the session 2.83% higher
WIG20 ended the session 2.83% higher, and 19 companies in the index were above the threshold. The exception was PKN Orlen, which lost 2.26% that day.
The leader of gains remained KGHM, gaining over 10% by the end of the session, supported by rising copper prices in recent times. Mid-cap and small-cap companies also performed well. mWIG40 rose 1.75%, while sWIG80 ended the day 1.57% higher.
On Wednesday we also learned of the RPP’s decision on interest rates, which was not a major surprise for markets. The board decided to keep rates unchanged.
This confirms that the process of easing monetary policy in Poland has ended, and we now face a period of its stabilization.
Across the ocean, sentiment was also very positive, supported by de-escalation of tensions and solid corporate results. The Wednesday session was largely dominated by the technology sector. One of the biggest winners was AMD, which ended the day up over 18% after publishing quarterly results following Tuesday’s session.
The report showed not only very good results but also that the company is becoming an increasingly serious competitor to NVIDIA.
Nikkei gains over 6%
NVIDIA itself also benefited from the euphoria in the semiconductor sector, ending the day up 5.77%. The S&P 500 gained 1.46%, while the Nasdaq 100 rose 2.08%.
At the time of writing, Asian markets are showing almost euphoric sentiment. Nikkei gains over 6%, Hang Seng rises over 1.5%, while Kospi remains slightly above the threshold. Futures on European indices are also slightly positive, suggesting a neutral or slightly positive opening for today’s European session.
There are no major scheduled releases in today’s macroeconomic calendar, so investors will have to wait for more important data until Friday.
Market focus today will remain primarily on Middle East news regarding the U.S.-Iran agreement, and incoming information may continue to dictate the direction of financial markets.
