European stock markets are following a positive trend, except for Germany, due to the recovery trend following concerns that the consensus climate in the Middle East may deteriorate.
The winds of peace blowing in the region with the memorandum of understanding signed between the USA and Iran on June 18 were reversed when commercial ships passing through the Strait of Hormuz were targeted.
A mixed outlook stands out in European markets, with the global risk perception increasing due to these developments and the ongoing valuation concerns regarding the semiconductor industry.
Developments regarding the Russia-Ukraine War also continue to remain in the focus of investors. US President Donald Trump stated that they will hold talks to reach an agreement between Ukraine and Russia at the NATO Summit, which will start today in Türkiye, and said, “We will go to NATO, discuss the issue and I think we will achieve it.” he said.
European Union (EU) Commission President Ursula von der Leyen also stated that they will discuss Ukraine’s air defense needs at the NATO Ankara Summit.
On the macroeconomic data side, industrial production in Germany exceeded expectations with a monthly increase of 0.9 percent. On an annual basis, industrial production did not change.
With these developments, as of 10.15 in European markets, the Stoxx Europe 600 indicator index is at 650.9 points, with an increase of 0.1 percent, and the FTSE 100 index in England is at 10,681 points, 0.3 percent above the previous closing.
In Germany, the DAX 40 index is at 25,773 points, 0.2 percent below the previous close, in Italy, the FTSE MIB 30 index is at 53,037 points, with a 0.2 percent gain, in France, the CAC 40 index is at 8,530 points, with a 0.6 percent gain, and in Spain, the IBEX 35 index is at 19,745 points, with a 0.3 percent increase.
Analysts stated that the news flow from the NATO Ankara Summit, which will start today, could be decisive on the direction of the markets and stated that the foreign trade balance in the USA will be followed.
