Markets choppy as investors await Middle East outcome

Markets end the week on the up

European markets closed the week higher, with the Stoxx 600 up 2.5% for May and the S&P 500 on track for its ninth consecutive weekly gain, its longest streak since December 2023. The rally was driven by hopes of a US-Iran ceasefire deal to reopen the Strait of Hormuz, though unresolved negotiations and rising Middle East tensions continue to cap energy and equity upside.