Breaking news: Donald Trump has postponed his threatened attacks on Iranian energy infrastructure following ‘good and productive’ talks with Iran.

Trump hails ‘productive’ talks with Iran on ending war
Donald Trump said he had held “very good and productive” conversations with Iran over ending the war in the Middle East

Volatility ‘fear gauge’ falls sharply
The Vix index of implied volatility in US stocks, popularly known as the “fear gauge” for Wall Street investors, has dropped sharply since the latest Trump intervention.

Main market moves after Trump announces talks with Iran
Oil prices fell sharply. Brent crude dropped 8 per cent to trade at $103 a barrel.

Stocks surged. The Stoxx Europe 600 reversed earlier losses to trade up 1.4 per cent.

US futures pointed to gains of more than 2 per cent on Wall Street.

Government bonds rallied. The yield on 10-year UK gilts fell 0.09 percentage points to 4.91 per cent.

Natural gas prices declined. The European TTF benchmark was down 9 per cent to about €54 per megawatt-hour.

Investors weigh impact of Trump’s ‘Taco-lite’ Iran war move
Donald Trump’s intervention was “probably ‘Taco-lite’, given the timelines and infrastructure specific,” said Jason Borbora-Sheen, portfolio manager at Ninety One, referring to the phrase “Trump always chickens out”.

Gilts rally on news of US discussing ‘complete resolution of hostilities’ with Iran
Gilts have rallied furiously on Donald Trump’s post, pushing the 10-year yield down 0.09 percentage points at 4.91 per cent, surging into positive territory for the day.

Italian bonds, another target of war worries over inflation, also swung into positive territory, with the 10-year yield back down to 3.87 per cent from its high of 4.12 per cent.

Gilts rally on news of US discussing ‘complete resolution of hostilities’ with Iran
Gilts have rallied furiously on Donald Trump’s post, pushing the 10-year yield down 0.09 percentage points at 4.91 per cent, surging into positive territory for the day.

Italian bonds, another target of war worries over inflation, also swung into positive territory, with the 10-year yield back down to 3.87 per cent from its high of 4.12 per cent.