- European markets are performing moderately well ahead of the U.S. session open. Nearly all major indices are posting visible gains, hovering around 1%. Poland’s WIG20 and Italy’s FTSE MIB are leading the way, with futures up 1.8% and 1.3%, respectively. FTSE 100, DAX, and CAC 40 are trimming futures gains to around 1%. Switzerland and the Netherlands are relatively lagging, where the main indices are up 0.8–0.9%.
- The pan-European STOXX 600 index is up about 0.6%.
- The market is receiving mixed signals from Donald Trump regarding the nature of further engagement in the Middle East.
- The president says he is ready to end the operation without first reopening the Strait of Hormuz, while additional units are simultaneously being deployed to the region.
- Investors focused on the European economic outlook received a large batch of macroeconomic releases from the Old Continent:
- German retail sales fell by 0.6% in February, disappointing expectations for a 0.2% increase. Germany’s unemployment rate was unchanged at 6.3%.
- Final inflation data from France showed a moderate rise to 1.7% y/y. French consumer spending fell noticeably by 1.4%.
- UK economic growth came in in line with expectations at 1% y/y.
- Eurozone inflation was marginally below expectations and rose to 2.5%.
- UBS is up more than 3% after the Financial Times published a report suggesting that Swiss lawmakers plan to ease some financial regulations.
- Unilever, the food conglomerate, announced it is in advanced talks to acquire McCormick. The company’s shares are up about 1%.
- Givaudan received a negative recommendation from an investment bank; analysts point to weak conditions in the luxury goods market amid tensions in the Middle East.
- Goldman Sachs analysts cut their eurozone GDP growth forecast to 0.7% (from 1.4%), citing energy prices as the main factor.
- Pandora, the Danish jewelry maker, is opening a distribution center in Canada to bypass U.S. tariffs.
- In FX markets, the pound is strengthening the most, gaining about 0.2% against major currencies. The Swiss franc is weakening, down about 0.2% versus major currencies.
Chart of the day: US100 jumps 1% amid rising Middle East de-escalation hopes (31.03.2026)
Morning wrap 🗽Indices try to rebound amid WSJ report (31.03.2026)
Daily Summary: Trump, Inflation, Threats, and Persian Gulf Tensions Cast a Shadow Over Wall Street
Powell Signals Fed Patience, but Inflation Risks Are Rising!
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
