Japanese Chief Cabinet Secretary Kihara says they are watching market moves with a high sense of urgency, including long-term rates. No comment on FX intervention.

BoE's Greene says some of the global economic resilience to the Iran war is due to inventories; second round effects of the energy price shock will not show up for another year

Iranian Foreign Ministry Spokesperson Baghaei says have made great efforts for safe movement and protection of the Strait of Hormuz, in constant contact with Oman to develop a mechanism, Mehr reports; Talks with the US continue through Pakistani mediation

Japanese Chief Cabinet Secretary Kihara says they are watching market moves with a high sense of urgency, including long-term rates. No comment on FX intervention.

EUROPEAN OPEN: PUB FP to buy RAMP in USD 2.2bln deal; AAL LN to sell its steelmaking coal business for up to USD 3.88bln; RYA ID confirms guidance; Elliott builds large stake in SRT GY; Tata Electronics & ASML NA sign MoU

European Movers: Publicis (PUB FP) +3.4%, bp (BP/ LN) +1.8%, Shell (SHEL LN) +1.0%, Anglo American (AAL LN) -1.4%, Novartis (NOVN SW) -0.4%