But with investors choosing to focus on hopes for a more lasting peace deal moves were modest and, in Asia, dominated by big weekly gains in AI stocks.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 7, 2026. REUTERS/staff
Traders were watching early results in Britain's local elections, which showed heavy losses for Keir Starmer's Labour Party though sterling stayed steady at $1.36 in Asia.
U.S. and Iranian forces clashed in the Gulf, and the UAE came under renewed attack. U.S. President Donald Trump later told reporters the ceasefire was still in effect and sought to play down the exchange, leaving oil at $101 a barrel.
Toyota(7203.T), opens new tab forecast a 20% decline in profit for the current financial year on Friday, as cost and supply uncertainties stemming from the Iran war weigh on earnings, and its shares fell about 1.5%.
Key developments that could influence markets on Friday:
- U.S.-Iran negotiations
- German trade data
- U.S. non-farm payrolls
Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
