On the upside, BP gained more than 1%, while utilities outperformed, with SSE up 2.7% and Centrica advancing 1.3%. Experian rose over 2% after appointing Adam Crozier as chair designate. On the macroeconomic front, UK unemployment edged down to 4.9%, beating expectations, while wage growth moderated to 3.8% including bonuses and 3.6% excluding them, with both measures slightly above forecasts.

Oil prices moved higher again as shipping activity in the Strait of Hormuz remained heavily disrupted, and after President Trump reiterated that the US will maintain its naval blockade of Iranian ports until a “final agreement” is reached.

On the corporate front, MTU Aero Engines was the session’s worst performer, falling 6.1%. Jefferies reaffirmed its Buy rating on the stock but cut its price target to €410 from €480. Beiersdorf dropped nearly 3% after reporting a decline in quarterly sales, citing weakness in its core brand and luxury divisions.

Adding to the cautious tone, Warsh proposed a new framework for the Federal Reserve to address persistent inflation but did not provide substantive details. Since the onset of the Iran conflict, gold has fallen more than 8%, as geopolitical risks have been counterbalanced by resilient US consumer spending and the Fed’s cautious policy stance.

Even so, prices remain close to their lowest levels since October 2024, weighed down by a substantial storage overhang. Mild spring weather has supported strong injections, leaving inventories about 7% above the five-year average as of April 17. Looking ahead, forecasts have turned warmer across the US Midwest through late April, which is expected to curb both heating and power demand and pave the way for additional storage builds as the market moves further into the low-demand spring shoulder season.

Equities also came under strain as Treasury yields advanced, driven by a stronger-than-expected increase in private payrolls in the ADP report and firmer core retail sales. Among mega-cap names, Apple fell more than 2% after announcing that hardware chief John Ternus will succeed Tim Cook as CEO in December. Tesla slipped 1% ahead of its earnings release tomorrow, while Nvidia declined more than 1%. In contrast, Amazon gained about 2% after committing over $20 billion in investment to Anthropic, and UnitedHealth surged more than 9% following a robust earnings report.

In terms of individual stocks, Safran fell nearly 7%, leading the declines after Jefferies cut its rating to “hold” from “buy.” Thales was close behind, shedding almost 6%, despite better-than-expected sales, as investors focused on weakness in its cybersecurity division and a cautious near-term outlook. By contrast, STMicroelectronics added 0.9%, and TotalEnergies rose 0.8%, supported by higher oil prices.

Both the prior and current estimates relate to the first quarter of 2026, highlighting a modest downward revision rather than a shift between quarters. The latest update, released on 21 April 2026, suggests that incoming data have marginally weakened the model’s outlook, keeping projected growth close to the lower end of typical expansion rates.

While the change from 1.3% to 1.2% is small in absolute terms, it may reinforce market perceptions of a cooling, but still expanding, U.S. economy as investors, policymakers, and analysts continue to track high-frequency indicators for confirmation of the underlying growth trend.

The conflict has already triggered a global energy crisis that could deepen if hostilities escalate. President Donald Trump said Vice President JD Vance is prepared to join the talks but stressed that Washington will not rush into an agreement and is prepared to resume military action if necessary.

The near-closure of the Strait of Hormuz has severely disrupted LNG shipments, curtailing roughly one-fifth of global supply. Shipping traffic remains largely at a standstill following renewed attacks, with several Qatari LNG tankers unable to transit the waterway and exports from the region effectively halted since late February.

China remained Colombia’s largest supplier, accounting for 30.5% of total imports, followed by the United States with 22%. Mexico, Brazil, Germany, Japan, and India also ranked among the main sources. Over the first two months of the year, total imports rose 8.8% from the same period a year earlier, reaching $11.64 billion.

US President Trump had earlier struck an optimistic tone, suggesting talks with Iran could take place soon, even as he confirmed that the ceasefire expiring tomorrow would not be extended. However, increasingly hawkish rhetoric from both sides has dimmed hopes of further de-escalation.

Oil and natural gas prices in Europe climbed again, worsening the margin outlook for major industrials; shares in Safran, Rheinmetall, and Airbus dropped between 3% and 7%. At the same time, bond yields rebounded, putting pressure on the banking sector, with UniCredit, Santander, and BBVA each losing close to 2%. L’Oréal declined 1.5% ahead of its earnings release tomorrow.

Exports rose 11.4% to $4.21 billion, driven primarily by a sharp 140.8% increase in non-monetary gold shipments and an 11.3% rise in exports of agricultural products, food, and beverages. These gains were partially offset by a 6.4% drop in exports of fuels and extractive products and a 6.8% decline in manufactured goods. The United States remained Colombia’s main export market, absorbing 31.2% of total exports.

Markets are also focused on the Senate confirmation hearing for Kevin Warsh as the next Fed Chair. Warsh argued that the Federal Reserve must undergo substantial changes to avoid repeating past inflation errors, calling for a regime shift in the conduct of monetary policy, including the adoption of a new inflation framework. Beyond relying on interest rates and the Fed’s balance sheet to fight inflation, he stressed the importance of clearer and more effective communication from the central bank.

The drop in the auction benchmark suggests a modest softening in underlying dairy pricing compared with the prior reading. While the indicator remains at relatively elevated levels, the movement points to slightly weaker market conditions for New Zealand’s milk exports, a crucial component of the country’s primary sector and external earnings.

Investors and market watchers will be monitoring upcoming auction results to see whether this downward move proves temporary or marks the start of a more sustained cooling in global demand or pricing power for New Zealand dairy products.

The reduced pace of decline suggests that while dairy prices remain under pressure, the market may be moving toward a more stable footing. The GDT index is a key benchmark for New Zealand’s dairy sector, a major contributor to the country’s export earnings and a closely watched indicator by traders and policymakers monitoring global commodity trends.

The reduced shortfall may reflect a combination of firmer export performance, softer import demand, or both, though the data provided do not detail the underlying components. For policymakers and investors, the trend will be monitored closely in the coming months to assess whether February’s improvement marks the beginning of a more sustained narrowing in Colombia’s trade gap or a temporary adjustment within a still-challenging external environment.

Both the current and previous readings are based on a year-over-year comparison, measuring how imports in a given month changed relative to the same month a year earlier. The February figure thus reflects the change in Colombian imports compared with February of the prior year, while January’s 9.70% reading compares imports with January a year earlier. The deceleration may signal a subtle cooling in external demand or domestic consumption, and will be closely watched by analysts tracking Colombia’s trade dynamics and broader economic momentum.

Against this backdrop, investors are closely monitoring the Senate confirmation hearing for Kevin Warsh as the next Fed Chair. Warsh argued that the Federal Reserve must undergo substantial changes to avoid repeating past inflation mistakes, calling for a regime shift in the conduct of monetary policy, including the adoption of a new inflation framework. Beyond deploying interest rates and adjustments to the Fed’s balance sheet to fight inflation, Warsh also stressed the importance of clearer and more effective Fed communication.

President Donald Trump said Vice President JD Vance is prepared to join the talks but stressed that the United States will not rush into an agreement and could resume military action if no deal is reached. Oil prices remain highly volatile as traders balance shifting diplomatic expectations against an almost complete halt in traffic through the Strait of Hormuz, where only a handful of vessels are currently passing.

The conflict continues to disrupt supply, with traders warning of mounting demand destruction and deepening shortages. Global leaders, including China, have called for an immediate ceasefire and the rapid restoration of normal shipping flows.

The flat month-on-month change suggests merchants maintained a steady balance between incoming goods and sales, with no visible build-up or drawdown in inventories beyond January’s pace. This consistency may reflect cautious inventory management as retailers navigate demand patterns early in the year.

The latest data, updated on 21 April 2026, will factor into broader assessments of goods supply and business investment, as retail inventories are a key component in tracking momentum in the US distribution and consumption pipeline outside the volatile auto sector.