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FINWIRES

Crude Prices, Peace Talk Reports Lift European Bourses Midday

-- European bourses tracked moderately higher midday Tuesday as global crude prices softened and traders weighed mixed reports of a possible renewal of Tehran-Washington peace negotiations, slated for Islamabad this week.

Front-month North Sea Brent crude oil futures were down 0.5% at $95.02 a barrel.

Tech and property stocks led gains on continental trading floors, while bank shares lagged.

Investors also eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges.

In economic news, the European Commission will provide guidance on how to handle airport slots and passenger rights, as well as public-service obligations in the event of jet fuel shortages due to Persian Gulf hostilities, said European Commissioner Apostolos Tzitzikostas on Tuesday, reported Reuters.

There are no continental fuel shortages "as of today" but the consequences of a continued blockade of the Strait of Hormuz could be "catastrophic," said Tzitzikostas.

The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.

The Stoxx Europe 600 Technology Index was up 1.2%, and the Stoxx 600 Banks Index gained 0.4%.

The Stoxx Europe 600 Oil and Gas Index eased 0.4%, while the Stoxx 600 Europe Food and Beverage Index declined 0.6%.

The REITE, a European REIT index, rose 0.8%.

On the national market indexes, Germany's DAX was up 0.6%, and the FTSE 100 in London was flat. The CAC 40 in Paris was up 0.1%, and Spain's IBEX 35 lifted 0.4%.

Yields on benchmark 10-year German bonds were steady, near 2.98%.

The Euro Stoxx 50 volatility index was down 1.5% at 22.29, but still indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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US Biofuels Update: Soybean Oil Hits New Highs Amid Middle East Uncertainty

Biofuels feedstock futures closed higher on Tuesday, as soybean oil futures reached a new high amid uncertainty in the Middle East peace talks.The Chicago Board of Trade May soybean futures contract closed 0.75% higher at $11.74 per bushel, and the CBOT May soybean oil futures contract settled 3.60% higher at 72.14 cents per pound.On Monday, the May ethanol futures contract on the Nymex ended 0.26% higher at $1.90 per gallon.Energy markets were moderately higher as US and Iranian officials are reportedly set to meet in Pakistan on Tuesday.Rhett Montgomery, DTN analyst, said that soybeans led the way higher, primarily borrowing strength from the soybean oil market.Montgomery said that firm crude oil and diesel futures certainly played a role, along with continued trend-based buying as traders remain very bullish on soybean oil demand prospects in light of last month's bullish Environmental Protection Agency mandates."The state of negotiations in the Middle East and subsequent status of trade through the Strait of Hormuz continues to cast a large shadow over the soybean market (and markets in general)," Montgomery stated in a daily note.

Australia

Market Chatter: Meta Platforms to Track Employees' Mouse Movements, Keystrokes for AI Training

Meta Platforms (META) is installing software to track mouse movements, clicks and keystrokes of US employees in an effort to train its artificial intelligence models, Reuters reported Tuesday, citing an internal memo.The owner of Facebook and Instagram will use Model Capability Initiative, a tool that will run on work-related apps and websites and will also gather occasional snapshots of the content on employee's screens, according to the report.The collected data is intended to improve the tech giant's AI models, which currently struggle to replicate how humans engage with computers, particularly when selecting from dropdown menus and using keyboard shortcuts, the media outlet reported.Meta did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $674.18, Change: $+3.27, Percent Change: +0.49%

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Sectors

Sector Update: Financial

Financial stocks were declining in late Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.3%.The Philadelphia Housing Index was adding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.6%.Bitcoin (BTC-USD) was decreasing 0.2% to $75,717, and the yield for 10-year US Treasuries rose 4.2 basis points to 4.29%.In corporate news, JPMorgan Chase (JPM) is working to secure approval from securities regulators in China to launch actively managed exchange-traded funds in the country for the first time, Bloomberg reported. JPMorgan shares were down 0.7%.

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