Europe open: Shares mixed ahead of latest Trump Iran deadline

7th Apr 2026 07:48

(Sharecast News) - European shares opened in cautious mood and oil prices rose after the Easter break as traders braced themselves for US President Donald Trump's latest deadline for Iran to open the key Strait of Hormuz or be "taken out in one night".

The pan-regional Stoxx 600 index was down 0.06% to 596 at 0830 BST. Major continental bourses were mixed with Germany's DAX 0.26% lower and the UK's FTSE 100 also down.

However, Italy, Spain and France all gained despite Trump's bellicose pronouncements over the weekend, including an expletive-laden social media post demanding the strait be reopened to all shipping.

He told a news conference the US could take out the whole of Iran "in one night and that night could be tomorrow night", referring to the 00:00 GMT Wednesday deadline he has given Tehran to reopen the vital waterway, through which around 20% of the world's oil supply travels.

Trump has publicly threatened major attacks against the country's energy and transport infrastructure if the leadership does not comply - potentially a war crime. In typical contradictory fashion, he also stated that ceasefire talks with the Iranian leadership were making progress.

Oil prices shifted upwards again, with Brent crude rising 1.51% to $111.43 a barrel and West Texas Intermediate up 2.28% to almost $115 a barrel.

"Global markets are bracing for a critical day as President Trump's looming deadline keeps investors on edge, with sentiment holding up better than you might expect given the risk of escalation," said Hargreaves Lansdown analyst Matt Britzman.

"Today has the potential to be one of the most volatile trading sessions since the conflict began, with any headlines likely to drive meaningful swings across global markets."

In equity news, shares in Universal Music Group surged after hedge fund Pershing Square, owned by billionaire Bill Ackman, tabled a cash and shares offer valuing the company at around €55bn.

Shares in Bollore Group, which holds 18% of UMG, also jumped on the news.

Reporting by Frank Prenesti for Sharecast.com