European Banks Turn Positive After Trump U-Turn -- Market Talk

Dow Jones03-23

1214 GMT - European banks jump following President Trump's Truth Social post announcing a pause in U.S. military attacks against Iranian energy infrastructure. A basket of European banks is 1.6% higher after falling as much as 3.2% earlier in the session. Investment banks with significant exposure to the Middle East climb most sharply. HSBC and Barclays climb 2.8% and 1.9% in London, respectively, while Santander surges 2.8% in Madrid. Trade is volatile following the president's post, with oil prices paring earlier losses as investors weigh the significance of the message and the Iranian response. "While this was the headline investors have been hoping for, the fact that Brent has rebounded back above $100 shows that markets remain sceptical," IG's Chris Beauchamp writes.(josephmichael.stonor@wsj.com)

 

(END) Dow Jones Newswires

March 23, 2026 08:15 ET (12:15 GMT)

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