European stocks closed weak on Tuesday, weighed down by Middle East concerns and higher oil prices. Political uncertainty in the UK weighed as well on sentiment.
U.S. President Donald Trump said the fragile ceasefire between Washington and Tehran was on "massive life support," raising fresh doubts over the chances of a lasting truce. Brent crude futures climbed to $108.45 a barrel, gaining nearly 4.5%.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.