Markets in Japan and South Korea hit fresh records as world shares mostly advanced Friday on expectations the U.S. and Iran will agree to extend the ceasefire in their war by 60 days.
Oil prices slipped, but remain above pre-war levels as the Strait of Hormuz remains largely closed. Analysts warned that the potential ceasefire extension should be viewed with caution, as it will take time for oil supplies to recover.
U.S. futures edged 0.1% higher.
In early European trading, Britain’s FTSE 100 rose 0.2% to 10,446.42. Germany’s DAX gained 0.3% to 25,157.61, while France’s CAC 40 added 0.9% to 8,262.90.
In Asia, Tokyo’s Nikkei 225 jumped 2.5% and ended at a record high close of 66,329.50, as data released Friday showed that Tokyo’s core inflation rate for May rose more slowly than economists expected.
