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GLOBAL MARKETS-Global stocks higher; oil rises on stalled peace talks
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GLOBAL MARKETS-Global stocks higher; oil rises on stalled peace talks
Apr 27, 2026 5:36 AM

* Oil futures rise as Mideast peace talk outlook

uncertain

* Global stocks higher; investors try to look past oil

shock

* Earnings and central bank decisions in focus this week

(Updates pricing after European morning)

By Sophie Kiderlin and Tom Westbrook

LONDON/SINGAPORE, April 27 (Reuters) - Oil futures rose

on Monday as stalled U.S.-Iran peace talks pointed to further

disruption in Middle East energy exports, while global stocks

were higher to start a busy week of tech earnings reports and

central bank decisions.

Benchmark Brent crude futures were up just more than

1% at $106.47 a barrel, having traded around a multi-week high

of $108.50 a barrel earlier in the session.

MSCI's All-World index inched up around

0.2%, while Europe's STOXX 600 added 0.53%. In Asia,

markets in Tokyo and Seoul rose to trade around

record highs, riding a fresh wave of AI-fuelled optimism, while

Wall Street futures were broadly steady.

"It is an incredibly busy week ahead. Not only are we going

to have inevitably another round of geopolitical headlines all

over the place, we've also got five policy decisions across the

G10, we've got five of the 'magnificent 7' (tech giants)

reporting, and I think by market cap it's about 45% of the S&P

giving us results this week," said Michael Brown, senior

research strategist at Pepperstone.

While a ceasefire has frozen most fighting in the war

triggered by U.S.-Israeli strikes on Iran two months ago,

markets remain focused on the closed Strait of Hormuz, crossed

by barely any ships carrying cargoes of oil and gas.

The outlook for peace talks remained uncertain.

U.S. President Donald Trump called off a trip by his envoys

over the weekend and said Iran should phone when it wanted a

deal, while Iran's foreign minister arrived in Russia on Monday

to meet longstanding ally President Vladimir Putin.

Work has not halted to bridge gaps between the United States

and Iran, sources from mediator Pakistan said.

Goldman Sachs analysts lifted year-end Brent oil price

forecasts to $90 a barrel, from $80, basing the expectation of

an end-June return to normal for Gulf exports.

"Non-linear price increases are likely if inventories drop

to critically low levels, which we have not seen in the last few

decades," they warned in a note.

INTEREST RATES AND TECH EARNINGS

Equity investors tried to look past the oil shock, with

renewed attention on the tech sector and the artificial

intelligence trend that some view as unstoppable.

"AI is something that people are very optimistic about and

very much considered a winner," said Mike Seidenberg, senior

portfolio manager for Allianz Technology Trust ( ALNZF ).

"It's the top of the portfolio."

Intel's ( INTC ) forecast last week for second-quarter

revenue exceeding Wall Street expectations set off the latest

round of buying, pushing the total value of the chipmaker-heavy

stock markets in Taiwan and South Korea above that of Germany.

Capital expenditure plans will be in focus for firms such as

Microsoft ( MSFT ), Alphabet, Amazon ( AMZN ) and Meta

Platforms ( META ), set to report on Wednesday, while Apple ( AAPL )

will report a day later.

Major central banks are expected to keep policy on hold this

week, including the U.S. Federal Reserve - at what will likely

be its last meeting with Jerome Powell in the chair.

The European Central Bank and Bank of England are also set

to keep policy unchanged, but their tone and outlook could

challenge market pricing for rate hikes later this year.

The first central bank to meet, however, will be the Bank of

Japan, which is expected on Tuesday to keep its short-term

policy rate steady at 0.75%.

In currencies, the dollar nudged slightly lower on Monday,

with the euro at $1.1740 and the Japanese yen pinned just

below the crucial 160 level.

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