The news flow from the talks between the USA and Iran continues to have an impact on prices. The tension, which escalated at the reconciliation table with the two countries’ showdown over nuclear issues and control of the Strait of Hormuz, calmed down to some extent in yesterday’s talks.
In his statement in front of the White House, US President Donald Trump stated that Iranian officials have contacted Washington and are willing to reach an agreement. US Vice President JD Vance also argued that progress was made in the talks, but the continuation of the talks and a possible agreement depended on Iran.
While these developments cause an increase in global risk appetite, a positive trend also stands out in European markets.
In European markets, as of 10.20, the Stoxx Europe 600 indicator index is trading at 617.7 points, with a 0.6 percent increase, and the FTSE 100 index in the UK is trading at 10,608 points, with a 0.3 percent increase.
In Germany, the DAX 40 index is at 23,974 points with a 1 percent gain in value, in Italy the FTSE MIB 30 index is at 47,746 points with a 0.5 percent premium, in France the CAC 40 index is at 8,266 points with a 0.4 percent increase, and in Spain the IBEX 35 index is at 18,135 points with a 0.7 percent increase.
In Europe, electric vehicle sales broke a record by exceeding half a million in March, driven by rising fuel prices and subsidy programs due to the war in the Middle East.
According to March data from the UK-based data analysis company Benchmark Mineral Intelligence, 1.75 million electric vehicles were sold worldwide in March. Last month’s sales increased by 3 percent on an annual basis and 66 percent on a monthly basis.
The record increase in electric vehicle sales in Europe was effective in the growth. Rising fuel prices and renewed subsidies due to the supply disruption in oil after the war between the USA-Israel and Iran have strengthened the tendency of drivers to purchase electric vehicles.
Electric vehicle sales in Europe exceeded half a million for the first time in March, approaching 540 thousand. This sales increased by 72 percent compared to the previous month and grew by 37 percent on an annual basis. England, Belgium, Finland, France, Italy, Portugal and Spain stood out as countries with record sales.
EU WILL IMPose IMPORT LIMITS TO PROTECT THE STEEL INDUSTRY
While developments on the commercial side are closely followed, European Union (EU) institutions agreed on measures that include significantly reducing steel imports and imposing a 50 percent customs duty in case of quota exceedance.
The EU Council announced that an agreement was reached in the negotiations with the European Parliament on the plan prepared to protect the steel industry against global overcapacity.
Accordingly, a new framework will be created to protect the EU steel sector against global overproduction and trade distortion. In the new system, duty-free steel imports will be limited to 18.3 million tons per year. Thus, the amount of duty-free imports will be reduced by 47 percent compared to 2024, and the non-quota customs duty will be increased to 50 percent.
After the regulation is officially approved by EU institutions, it is aimed to enter into force on July 1, 2026, when the current steel protection measure will end.
AFTER THE PILOTS, THE CABIN CREW ARE GOING ON STRIKE AT LUFTHANSA
On the corporate side, as the German airline company Lufthansa was preparing for the 100th anniversary celebrations of its founding, the pilots and cabin crew decided to go on strike for 48 hours.
In the statement made by the Independent Cabin Crew Organization (UFO) Union, it was stated that the cabin workers of the main brand Lufthansa and its regional subsidiary Cityline will go on strike on April 15.
The decision, taken after negotiations on working conditions and wage increases stalled, is expected to cause major disruptions in air transportation. The strike will start at 00.01 local time on Wednesday, April 15 (01.00 Turkish lira) and will end at 23.59 on Thursday, April 16 (00.59 Turkish lira).
It is anticipated that all flights departing from the airline’s main hubs, Frankfurt and Munich, will be affected by the strike.
Analysts stated that developments in the Middle East and Producer Price Index (PPI) data in the USA will be followed for the rest of the day.
