Oil prices have risen by 5 percent following reports of backchannel negotiations between the US and Iran.

The European Central Bank (ECB) on Thursday kept key interest rates unchanged as heightened geopolitical tensions weigh on the outlook of inflation and economy in the euro area.

U.S. stocks were higher on Wednesday, with Nvidia gaining ahead of its quarterly results after the closing bell. The technology sector extended a rebound after a sharp sell-off on Monday.  

China is expected to maintain its benchmark lending rates for the third consecutive month in August, according to a Reuters survey, News.Az reports.

China cut its key lending rates by 10 basis points on Tuesday, as a stronger yuan and easing trade tensions offer it room for monetary easing aimed at boosting its economy.

China’s benchmark stock index rallied the most in two months on Friday, with consumer shares leading gains on expectations of more policy support for the sector.

UBS strategists maintained their S&P 500 price target of 6,200 by June 2025 on Monday and reaffirmed a positive outlook on AI beneficiaries and quality stocks, News.Az reports citing Investing.

Europe's benchmark stock index lost over 1% on Thursday, led by losses in the technology sector, and was set to wipe out all gains from the previous session, mirroring the gloomy sentiment seen in Asian markets, News.az reports citing Reuters .