Armenia and Azerbaijan agree peace treaty, ending decades-long conflict
Armenia and Azerbaijan struck a peace deal Friday to resolve their decades-long conflict over the Armenian-populated Nagorno-Karabakh region of Azerbaijan that began with the fall of the Soviet Union, according to both countries' foreign ministries.
European leaders welcomed the announcement, with European Council chief Antonio Costa hailing the finalization of the treaty text as a 'decisive step towards the full normalisation of relations.'
'The EU stands ready to support all further steps toward lasting peace and security in the South Caucasus,' he wrote.
Some issues appear to be outstanding, however: Baku said Yerevan must renounce all territorial claims to Azerbaijan, which would require a revision of its constitution via referendum.
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The FTSE 100 (^FTSE) and European stocks were mixed on Friday as traders weighed a public feud between Tesla (TSLA) boss Elon Musk and US president Donald Trump. Shares in the electric car company nosedived 14% on the back of the row, as Trump threatened to terminate Musk's governmental subsidies and contracts. He accused the billionaire of going 'CRAZY!' over the removal of electric car subsidies. The decline wiped out roughly $150bn (£110bn) in market value in one of the company's worst days in months. Chris Weston, head of research at Pepperstone, said: "The selling in Tesla (TSLA) stock on the day has been wholly impressive with 285m shares traded on the day – the most since January 2023 – with a 'sell first, ask questions later' mentality sweeping through the shareholder base. "In the options space, over 4 million put options traded hands, 4x the 20-day average." 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London's benchmark index (^FTSE) was 0.2% higher in early trade Germany's DAX (^GDAXI) dipped 0.3% and the CAC (^FCHI) in Paris headed 0.2% into the red The pan-European STOXX 600 (^STOXX) was trading near the flatline Wall Street is set for a positive start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green. The pound was 0.2% down against the US dollar (GBPUSD=X) at 1.3546 Follow along for live updates throughout the day: Average UK house prices dipped 0.4% in May, representing a fall of nearly £1,150, after changes to stamp duty came into effect, according to the latest data from Halifax. The average UK property is now valued at £296,648, down from £297,781 in April, when house prices rose for the first time this year. Markets had a volatile session yesterday and overnight, as they grappled with a barrage of news that each pushed in different directions. 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This followed a very soft ADP report the previous day, which had private payrolls up by just 37,000 in May. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. For the day ahead the main highlight will be the US jobs report for May. Over in Europe, there's also Euro Area retail sales for April, and German and French industrial production for April. Otherwise, central bank speakers include ECB President Lagarde, and the ECB's Holzmann, Simkus and Centeno. Here's a quick snapshot of what's on the agenda for today: 7am: Trading updates: Intuitive Investment Group, Bango, Empire Metals, 7am: Halifax house price index 8.30am: UN FAO food price index 10am: Eurozone GDP report for Q1 2025 (3rd estimate) 11.30am: Bank of Russia interest rate decision 1.30pm: US non-farm payroll reportAverage UK house prices dipped 0.4% in May, representing a fall of nearly £1,150, after changes to stamp duty came into effect, according to the latest data from Halifax. The average UK property is now valued at £296,648, down from £297,781 in April, when house prices rose for the first time this year. Markets had a volatile session yesterday and overnight, as they grappled with a barrage of news that each pushed in different directions. Those included positive US-China headlines amid a call between Donald Trump and Xi Jinping, a hawkish ECB decision and more weak data from the US. However, the most remarkable was an extraordinary war of words between Trump and Tesla (TSLA) boss Elon Musk. The Nikkei (^N225) rose 0.5% on the day in Japan as household spending in the country slipped 0.1% year-on-year in April, attributed to consumers curbing spending due to rising prices. This contrasted sharply with market expectations of a 1.5% gain following the previous month's 2.1% increase. The Hang Seng (^HSI) fell 0.4% in Hong Kong and the Shanghai Composite ( was hovering near the flatline by the end of the session. Across the pond on Wall Street, the S&P 500 (^GSPC) fell 0.5%, and the tech-heavy Nasdaq (^IXIC) was 0.8% lower. The Dow Jones (^DJI) slipped 0.3%. It came as initial jobless claims moved up to 247,000 in the week ending 31 May, compared to the 235,000 expected, reaching their highest level since October. This followed a very soft ADP report the previous day, which had private payrolls up by just 37,000 in May. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. For the day ahead the main highlight will be the US jobs report for May. Over in Europe, there's also Euro Area retail sales for April, and German and French industrial production for April. Otherwise, central bank speakers include ECB President Lagarde, and the ECB's Holzmann, Simkus and Centeno. Here's a quick snapshot of what's on the agenda for today: 7am: Trading updates: Intuitive Investment Group, Bango, Empire Metals, 7am: Halifax house price index 8.30am: UN FAO food price index 10am: Eurozone GDP report for Q1 2025 (3rd estimate) 11.30am: Bank of Russia interest rate decision 1.30pm: US non-farm payroll report Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
