MORNING BID EUROPE-Friday 13th brings explosions in Tehran, race to safe havens
It had to be Friday the 13th, right? The morning began with explosions in Tehran that appeared to be much more serious than tit-for-tat strikes between Israel and Iran last year.
Though a preemptive strike by Israel on Iran's budding nuclear capability had been suspected, the timing and severity still took markets by surprise, with oil prices jumping over 11% at one point.
What remains unclear is what role or knowledge the United States had about the offensive and what will Washington do if Iran retaliates. Secretary of State Marco Rubio said the U.S. was not involved, while Israel's state broadcaster said Washington had been notified before the strikes. Steve Witkoff, President Donald Trump's special envoy to the Middle East, had been expected to meet Iran's foreign minister in Oman on Sunday.
Oil's jump put it on course for the sharpest daily gain in more than five years. Gold and Treasuries surged in Asian trading, while stock futures pointed to roughly 1.5% declines in Europe and U.S. Britain's FTSE was down less than 0.5% in the futures market.
With rubber bullets flying in Los Angeles and missiles dropping in Tehran, global economies are clearly prioritising guns over butter. Major defence contractors in Europe such as Britain's BAE Systems, France's Dassault Aviation, and Sweden's Saab AB may be active today. Key developments that could influence markets on Friday:
- German, French final CPI readings for May
- Euro zone trade balance, industrial production data for April
Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here.
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First Post
22 minutes ago
- First Post
Trump meets European leaders, says Russia has agreed to security guarantees for Ukraine
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Hindustan Times
22 minutes ago
- Hindustan Times
Trilateral meeting to ‘best conversation': Trump-Zelensky hold talks at White House
Trump-Zelensky talks news: As Ukrainian President Volodymyr Zelensky and US President Donald Trump returned to the White House on Monday, the former signalled his openness to a trilateral meeting with Russian counterpart Vladimir Putin to negotiate an end to the war in Ukraine. US President Donald Trump held a public and a private meeting with his Ukrainian counterpart, Volodymyr Zelenskyy, in the Oval Office of the White House.(AP) Earlier on Sunday, the White House said that Trump is open to holding three-way talks with Putin and Zelensky in the US state of Alaska, a development that came amid the efforts to reach a truce agreement to end the Russia-Ukraine conflict. Follow Trump-Zelensky meeting LIVE updates Monday's meeting between Trump and Zelensky comes after the US President's summit with Putin in Alaska, which he described as a "very productive meeting". ALSO READ | Zelensky returns to the White House to meet Trump after horrific Oval Office spat | A recap Meanwhile, a group of European leaders, including German Chancellor Friedrich Merz, French President Emmanuel Macron, UK Prime Minister Keir Starmer, Italian Prime Minister Giorgia Meloni, Finnish President Alexander Stubb, European Commission President Ursula von der Leyen and NATO Secretary-General Mark Rutte, were holding a meeting with Trump and Zelensky at the White House. Trump-Zelensky meet in White House | 6 Points Open to 'trilateral meeting': A day after US President Donald Trump's assent for a trilateral meeting with Zelensky and Putin, the Ukrainian President also expressed openness to such a meet. "We are ready for trilateral," he said. The intention behind the meeting would be to negotiate an end to the war in Ukraine. Trump also said that it is "never the end of the road" after being asked if Ukraine would not get support from the US in case no deal is struck. He expressed hope and said "there is a good chance" of ending the war through these meetings. "I know the president, I know myself, and I believe Vladimir Putin wants to see it end," Trump said. ALSO READ | Putin dials PM Modi: India calls for peaceful resolution of Ukraine war as Trump meets Zelensky Zelensky's 'suit' catches the eye: Ukrainian President Volodymyr Zelensky was spotted in formal attire for his meeting with Trump on Monday, taking the US President by surprise. "He's all dressed up today," Trump told reporters as he greeted Zelensky. One of the American reporters complimented the Ukrainian leader and said, "Love the suit". Another reporter who had hit out at Zelensky for not wearing a suit last time told the leader that he looked "fabulous in the suit". Trump jumped in and said, "I said the same thing", then he turned to Zelensky and added, "That's the one that attacked you last time". Zelensky responded by saying, "I remember that", sending a ripple of laughter across the room. From Ukraine's first lady to the US's first lady: Ukrainian leader Volodymyr Zelensky handed President Trump a letter from Ukraine's first lady and told him that it was for America's first lady, Melania Trump. "My wife, the first lady of Ukraine, she gave the letter. It's not to you but to your wife," Zelensky reportedly told Trump. Last week, Trump handed a letter from Melania to Russian President Vladimir Putin at their summit in Alaska. Melania had urged Putin to put an end to the war in Ukraine, saying "it is time". Ukrainian leader Volodymyr Zelensky handed President Trump a letter from Ukraine's first lady and told him that it was for America's first lady, Melania Trump. "My wife, the first lady of Ukraine, she gave the letter. It's not to you but to your wife," Zelensky reportedly told Trump. Last week, Trump handed a letter from Melania to Russian President Vladimir Putin at their summit in Alaska. Melania had urged Putin to put an end to the war in Ukraine, saying "it is time". Will Trump send US troops to Ukraine war?: On being asked whether the US President would rule out the deployment of US troops to the Ukrainian war zone, Donald Trump said, "We'll let you know that, maybe, later today," in reference to the meeting he held with the seven European leaders, including British Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz. "They'll all be involved. When it comes to security, there's going to be a lot of help," Trump added. On being asked whether the US President would rule out the deployment of US troops to the Ukrainian war zone, Donald Trump said, "We'll let you know that, maybe, later today," in reference to the meeting he held with the seven European leaders, including British Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz. "They'll all be involved. When it comes to security, there's going to be a lot of help," Trump added. Zelensky open to Ukraine elections, if 'safe': Volodymyr Zelensky said that he was open to holding an election in Ukraine if the war with Russia comes to an end and the situation becomes safe. "We need to work in parliament because during the war, you can't have elections," he said in the White House. Trump joked over the Ukrainian leader's response on elections and drew parallels with how a similar situation could allow him to stay in power in the US after his current term expired. 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India Today
22 minutes ago
- India Today
Is Zelensky's Leadership the Real Cause of Ukraine's War?
Washington has once again become the crossroads of war and peace. Ukrainian President Volodymyr Zelenskyy arrived in the American capital, accompanied by Europe's most powerful leaders. Their message is one of unity, their goal clear: to prevent another humiliation like the one that unfolded in February, when Donald Trump openly challenged Ukraine's cause in the Oval Office. Yet this visit carries a darker question beneath the diplomacy and speeches: was this war avoidable? Did Ukraine, under Zelenskyy, take steps that made conflict inevitable?advertisement Trump Shifts: From Ceasefire to Permanent SettlementAfter his Alaska meeting with Vladimir Putin, Donald Trump has pivoted sharply. No longer advocating a ceasefire, he now speaks of a permanent settlement that would see Moscow annex the Donbas in full. Behind closed doors, according to officials, Trump has pressed Zelenskyy to consider Putin's demands-a proposition the Ukrainian leader has rejected. But the fact that the U.S. president is echoing Moscow's red lines cannot be ignored in Zelenskyy and his allies, the stakes are immediate. Donetsk and Luhansk, long contested and long fought over, are now openly being demanded as the price for peace. Europe stands behind Ukraine, but Washington's position has shifted dramatically, leaving Zelenskyy in a precarious NATO GambleThe question of responsibility extends deeper. For decades, Russia made it clear that NATO expansion into Ukraine would be unacceptable. Leaders from Boris Yeltsin to Vladimir Putin repeatedly warned that Ukrainian membership was a red line-a message neither subtle nor Zelenskyy, and Ukraine more broadly, continued to push for NATO membership, promising his people a future inside the alliance despite the absence of any formal guarantee. NATO leaders offered 'aspirations,' 'partnerships,' and 'eventual goals,' but no Article 5 security guarantee, no binding timetable, no treaty. Zelenskyy made this a central tenet of his presidency, signalling to Russia a direct Ukrainian voices are now asking whether Zelenskyy overplayed his hand. The war, they argue, is not merely Moscow's aggression but also Kyiv's miscalculation-a decision to promise more than his supposed allies were willing to deliver.A History of Humiliation and DistrustZelenskyy's political calculations have repeatedly collided with reality. In February 2025, his White House meeting ended in public humiliation, with Trump and Vice President JD Vance accusing him of dragging the United States toward 'World War Three.' Trump also torpedoed an energy deal Ukraine had been negotiating, leaving Zelenskyy politically weakened and deeply suspicious of has often shown that smaller nations are treated as bargaining chips in great-power politics. In 2014, a leaked phone call revealed U.S. officials dictating Ukraine's internal politics, dismissing European input with an infamous expletive. Russia exploited the episode to portray Ukraine as a puppet of the West. Today, Zelenskyy faces a similar dynamic: the struggle for agency in a game dominated by more powerful Shadow of Spheres of InfluenceUnderlying the summit is the enduring doctrine of spheres of influence. Putin has long demanded a buffer zone between Russia and NATO-a stance reminiscent of the Monroe Doctrine. Alarmingly for European leaders, Trump's rhetoric increasingly echoes Moscow's red lines, framing Ukraine's NATO aspirations as negotiable. The danger is clear: if Washington endorses a Russian sphere, Ukraine's sovereignty could be subordinated to Moscow's security priorities, and Europe's principle that small nations have the right to choose their alliances would be Credibility at StakeZelenskyy's European allies are not merely supporting Ukraine's survival; they are defending their own credibility. Years of speeches on the sanctity of borders and sovereignty are on the line. For leaders like Macron, Merz, and Starmer, being mere spectators while Trump and Putin discuss Ukraine's future would be politically and morally and ConsequencesAt the heart of this confrontation lies a difficult truth: Ukraine's leadership bears a degree of responsibility for the conflict. Zelenskyy's decision to promise NATO membership without guarantees provoked Moscow, setting the stage for the war that followed. While Russian aggression cannot be denied, Kyiv's actions-its promises, its strategic gambles, its miscalculations-played a central role in bringing catastrophe to its own Washington summit is thus not merely about weapons or aid. It is about agency, about the right of Ukraine to determine its own future without being forced into a corner by the great powers. And as Zelenskyy faces Trump and Putin, with Europe watching closely, the lesson is stark: leadership choices carry consequences-sometimes devastating ones.- Ends
