MORNING BID EUROPE-Friday 13th brings explosions in Tehran, race to safe havens
A look at the day ahead in European and global markets from Rocky Swift
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
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Time of India
30 minutes ago
- Time of India
Kashmir parties condemn Israel's attack on Iran
File photo: J&K CM Omar Abdullah (Picture credit: ANI) SRINAGAR: Political parties in Kashmir, including the governing National Conference, condemned Israel's attack on Iran on Friday, saying 'the silence of influential countries like the US on this issue is alarming'. J&K CM Omar Abdullah said Iran had not provoked Israel in any manner to justify its offensive and this amounted to waging war against another nation. 'What Israel has done is very similar to what Russia did in Ukraine,' he told reporters here. 'The world raised its voice against Russia and launched campaigns condemning its actions. But when Israel attacks Iran, global powers, including the US and European countries, remain silent. If it is wrong for one country to invade another in Russia's case, then it is equally unjustified for Israel to attack Iran,' he said. Omar said there would be immediate repercussions of the attack. 'It affects our fuel prices, impacts the stock market, disrupts flight routes to the West, and more importantly, it stirs public sentiment.' Slamming Israel, NC MP Aga Ruhullah said: 'Iran, like any sovereign nation, now has every right to defend itself and take full, punishing revenge. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo The Zionist regime should pay for its crimes in Gaza, for its bloodlust, for its massacres.' PDP president Mehbooba Mufti wrote on X that Israel's attack is yet another brazen act by a state that 'appears to have gone rogue'. 'The silence of the global community, particularly western powers led by the United States, is both alarming and telling. This silence amounts to tacit approval. In the case of India-Pakistan tensions, the US never fails to assert that its intervention has been crucial in preventing escalation. Yet, when it comes to Israel's relentless bombardment of Gaza or its latest strike on Iran, that same urgency is conspicuously missing,' Mehbooba said. She said equally disturbing is the 'deafening silence of the so-called Muslim countries, who remain shamelessly non-existent in the face of such grave injustice'. People's Conference's Imran Reza Ansari said the 'calculated act of aggression of Israel is not merely a political provocation but an assault on the very ideals of justice, sovereignty, and intellectual resistance'.
Economic Times
an hour ago
- Economic Times
Air India crash, emergency landing and Iran-Israel tensions spark sky scare among flyers
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Services 1. Industry seeks government sops to revive tourism in Kashmir New Delhi: The fatal Boeing 787 Dreamliner crash in Ahmedabad, a bomb scare causing emergency landing of a Phuket-Delhi flight, and several flight diversions due to Iranian airspace closure after Israel unprecedented wave of disruptions in two days has spooked Indian air travellers, with many seeking to reschedule their trips in the near term, travel companies business and leisure travellers have taken to social media for queries and rescheduling requests. On Friday, Air India diverted or recalled at least 16 flights on transatlantic and European routes as Iran closed its airspace after Israel launched an attack targeting its nuclear and military flights included the AI130 London Heathrow-Mumbai flight that was being diverted to Vienna and the AI102 New York-Delhi flight that was being diverted to Sharjah. In a statement, Air India also stated the AI103 Delhi-Washington flight was returning to Delhi, the AI188 Vancouver-Delhi flight was diverting to Jeddah, and the AI132 London Heathrow-Bengaluru flight was being diverted to Tata Group airline said alternative arrangements are being made to fly passengers to their destinations, noting that it is providing accommodation where needed to minimise disruption. This comes just a day after the crash of an Air India flight in Ahmedabad that killed at least 265 people. Many travellers are posting queries and concerns on social media.'I have a flight to London tomorrow AI129 from Mumbai to London. Can you please let me know if the flight will go ahead or not? Please let me know,' one Karan Awasthi posted on X tagging Air India. In a subsequent post a few hours later, he said: 'What the hell! Can't you reply to genuine concerns?'Another user, Jenny claimed that flight AI130, which was diverted to Vienna, was heading to Milan instead. 'My husband is onboard. No food provided. No clear updates. What's going on?' she Gosain, president of Indian Association of Tour Operators (IATO), said the uncertainty around airspace closures, flight delays and rerouting will likely remain prevalent for the foreseeable future due to the Israel-Iran conflict, making planning and executing trips more 'complex'. 'We also heard about a flight from Phuket to Delhi being diverted due to a bomb threat. Incidents like these, combined with the ongoing geopolitical tensions, create a ripple effect across the global travel ecosystem,' Gosain said.'If instability around geopolitical tensions persists, the long-term effects on consumer confidence and global mobility could be significant,' he agencies said they are busy fielding queries and rescheduling requests from people scheduled to travel in the coming few days, with many also raising concerns about the safety of Boeing aircraft following media reports.'Customers are asking for model numbers and aircraft details of flights following Thursday's crash. Even we don't have the details at times and have to research on these,' said Kapil Jain, cofounder and CEO of Fly Divine Travels.
Time of India
an hour ago
- Time of India
Air India crash, emergency landing and Iran-Israel tensions spark sky scare among flyers
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The fatal Boeing 787 Dreamliner crash in Ahmedabad, a bomb scare causing emergency landing of a Phuket-Delhi flight, and several flight diversions due to Iranian airspace closure after Israel unprecedented wave of disruptions in two days has spooked Indian air travellers, with many seeking to reschedule their trips in the near term, travel companies business and leisure travellers have taken to social media for queries and rescheduling requests. On Friday, Air India diverted or recalled at least 16 flights on transatlantic and European routes as Iran closed its airspace after Israel launched an attack targeting its nuclear and military flights included the AI130 London Heathrow-Mumbai flight that was being diverted to Vienna and the AI102 New York-Delhi flight that was being diverted to Sharjah. In a statement, Air India also stated the AI103 Delhi-Washington flight was returning to Delhi, the AI188 Vancouver-Delhi flight was diverting to Jeddah, and the AI132 London Heathrow-Bengaluru flight was being diverted to Tata Group airline said alternative arrangements are being made to fly passengers to their destinations, noting that it is providing accommodation where needed to minimise disruption. This comes just a day after the crash of an Air India flight in Ahmedabad that killed at least 265 people. Many travellers are posting queries and concerns on social media.'I have a flight to London tomorrow AI129 from Mumbai to London. Can you please let me know if the flight will go ahead or not? Please let me know,' one Karan Awasthi posted on X tagging Air India. In a subsequent post a few hours later, he said: 'What the hell! Can't you reply to genuine concerns?'Another user, Jenny claimed that flight AI130, which was diverted to Vienna, was heading to Milan instead. 'My husband is onboard. No food provided. No clear updates. What's going on?' she Gosain, president of Indian Association of Tour Operators (IATO), said the uncertainty around airspace closures, flight delays and rerouting will likely remain prevalent for the foreseeable future due to the Israel-Iran conflict, making planning and executing trips more 'complex'. 'We also heard about a flight from Phuket to Delhi being diverted due to a bomb threat. Incidents like these, combined with the ongoing geopolitical tensions, create a ripple effect across the global travel ecosystem,' Gosain said.'If instability around geopolitical tensions persists, the long-term effects on consumer confidence and global mobility could be significant,' he agencies said they are busy fielding queries and rescheduling requests from people scheduled to travel in the coming few days, with many also raising concerns about the safety of Boeing aircraft following media reports.'Customers are asking for model numbers and aircraft details of flights following Thursday's crash. Even we don't have the details at times and have to research on these,' said Kapil Jain, cofounder and CEO of Fly Divine Travels.
