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European stock markets rally after report of ‘secret outreach’ by Iran to try to end war

about 11 hours ago
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European stock markets have rallied on a report claiming Iran is engaging in a “secret outreach” to end the war in the Middle East, after several days of heavy losses on indices around the world,The New York Times reported that a day after the attacks began, operatives from Iran’s Ministry of Intelligence indirectly contacted the CIA with an offer to discuss terms for ending the conflict,Officials briefed on the backchanneling are, however, sceptical – at least in the short-term – that either the Trump administration or Iran is really ready for an off-ramp, the report said,There are also questions over whether any Iranian officials could negotiate a ceasefire agreement, as Israeli strikes have taken out many senior figures,The report helped push up the UK’s FTSE 100 share index by nearly 70 points, or 0.

65%.The pan-European Stoxx 600 index rose 1.5%, the German stock market gained 1.3%, the French bourse rose 0.8% and the Italian exchange climbed 1.

7%.On Wall Street, the Dow Jones lost 70 points, or 0.1%, in early trading while the Nasdaq climbed more than 100 points, or 0.5%, and the S&P 500 edged 10 points higher, a 0.15% gain.

The US dollar, which had been strengthening as investors sought out a safe haven asset, slipped 0,2%,Oil retreated, too, with the price of a barrel of Brent crude easing back to about $81,20, after jumping 3% earlier to more than $84,Gas also reversed earlier gains.

European natural gas futures fell as much as 9.5%, after soaring 60% over the past two days.“The report suggests Iranian openness to talk,” the Rabobank energy strategist Florence Schmit told Bloomberg News.“But an actual decline of prices back to pre-March levels hinges on a cessation of attacks.”The world’s largest liquefied natural gas plant in Qatar remains shut, and uncertainty over its reopening is fuelling worries over a possible supply crunch.

Asian stock markets tumbled earlier in the day despite Donald Trump’s offer to have the US navy escort tankers through the strait of Hormuz and the US military’s claim there was “not a single Iranian ship under way” in the crucial waterway.The Middle East conflict has crippled the strait, which was in effect closed by Iran after strikes by the US and Israel at the weekend, raising fears of a sustained energy supply crisis that reverberated around the world.Trading in Seoul was briefly suspended on Wednesday as South Korea’s benchmark Kospi share index slumped 12%, its biggest single-day drop since 2008, after a 7% decline on Tuesday.The stock exchange of Thailand index was also suspended for a period after losses exceeded the 8% trigger point.Japan’s Nikkei 225 dropped 3.

6%, while China’s CSI 300 lost 1,1% and India’s Nifty 50 declined 1,75%,In the Middle East, the Dubai and Abu Dhabi stock exchanges opened for the first time since the US and Israel struck Iran on Saturday, with the Dubai index sliding 4,9% and Abu Dhabi’s ADX down 3.

3% during early trading.The US military has destroyed 17 Iranian ships, including a submarine, since Saturday, Brad Cooper, the commander of the US Central Command, said late on Tuesday.“Today, there is not a single Iranian ship under way in the Arabian Gulf, strait of Hormuz, or Gulf of Oman,” he said in a video statement.Shipping through the strait of Hormuz – typically a vital artery of the world economy, with about a fifth of oil supplies and seaborne gas tankers passing through it – has largely ground to a halt.Trump sought to mitigate fears of long-term disruption to the global oil market on Tuesday, suggesting that the US military stood ready to protect ships moving through the strait, and offer political risk insurance “at a very reasonable price” to vessels navigating the Gulf.

“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible,” the US president wrote on his Truth Social platform.“No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD.”Mohit Kumar, an economist at Jefferies, said: “A US insurance for ships passing through the Strait of Hormuz could be a gamechanger, if successfully implemented.”Meanwhile, thousands more Britons stranded in the Middle East were returning home on Wednesday as airlines increased their flights from the region.
foodSee all
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Stuffed peppers and aubergine dip: Sami Tamimi’s recipes for savoury Palestinian snacks

I still remember, when I was a kid, the end of spring and early summer when markets in Jerusalem and across Palestine overflowed with freshly harvested freekeh. As you approached, the air carried a smoky, earthy aroma. Freekeh is an ancient grain, a staple across the Middle East and Turkey, made from green wheat roasted over open fires to burn off the husks, which gives it the characteristic nutty flavour. The name comes from the Arabic freek, meaning “to rub”, which describes how the grains are cleaned, dried, cracked and stored for the year.Throughout the Middle East and Palestine, mahashi (stuffing vegetables) is a true labour of love, creating dishes that are designed to be shared

about 20 hours ago
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Australian supermarket muesli bars taste test: the worst is ‘both dry and moist’

During a blind taste test of 19 muesli bars, for the first time in his life Nicholas Jordan asks: ‘Is this too much cinnamon?’Get our weekend culture and lifestyle emailIf you value our independent journalism, we hope you’ll consider supporting us todayI have a long history with muesli. Muesli bars were a recess staple during my school years. As a uni student, I made muesli in 20kg batches and sold it from my sharehouse back yard like a drug dealer. In lockdown, I started an Instagram account where I would review and rate a different muesli every three or four days (I am the only contributor to the hashtag #mueslireviewsli). Even before this taste test, I would guess that I’ve tried more than 80% of all the muesli and muesli bar brands available in my area

1 day ago
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Why do my potatoes go black after cooking? | Kitchen aide

Why do some potatoes turn black on cooking, and how do I stop this happening? I usually leave them to cool in the cooking water, but should I plunge them in cold water instead?”Jean, Hampshire“We’ve all been there,” sympathises spud queen Poppy O’Toole. “It’s a harmless chemical reaction,” the author of The Potato Book continues, “but it looks rank and only gets worse with the slow cooling process that Jean’s using.” But let’s wind things back for a moment. According to the food science guru Harold McGee, in his bible On Food & Cooking, the darkening of cooked potatoes “is caused by the combination of iron ions, a phenolic substance [chlorogenic acid] and oxygen, which react to form a pigmented complex”. So what’s the solution? Make the pH of the water “distinctly acidic”, which McGee does by adding cream of tartar or lemon juice “after the potatoes are half-cooked”

1 day ago
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‘Where the magic really happens’: the influencers out to celebrate – and save – Britain’s ‘proper boozers’

The Calthorpe Arms on Gray’s Inn Road is a fairly atypical central London pub. With patterned red carpets, brass fittings, leather bar stools, a pool table and Christmas tinsel still hanging in early February, it feels very much a “local”, although on a Thursday evening it’s busy with the post-work crowd.It’s the fifth time Niall Walsh, who works nearby and runs the Proper Boozers Instagram account, has visited in recent months. “It’s just off the beaten track, but easy to get to,” Walsh says over a pint of Harvey’s. “You can get a real, authentic pub experience

1 day ago
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Stuffed battered chillies and chilli cheese toasties: Maunika Gowardhan’s favourite Holi snacks – recipes

Celebrate Holi, the festival of colours and the arrival of spring, with sumptuous, delicious and addictive snacks. The bharwa mirchi pakode ki chaat is full of flavour and topped with tamarind, green chutney and chaat masala. Alongside it, a street-food favourite from my home town of Mumbai: the classic chilli cheese toastie stuffed with potato, peppers and green chutney. Both are the sort of dishes you can eat at any time of day, and the unifying ingredient is the humble potato, which I feel is the backbone of Indian cooking, be it in curries, stir-fries, flatbreads, snacks and even raitas.I’d happily eat this delicious street-food classic on any day of the week

2 days ago
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Rukmini Iyer’s quick and easy recipe for chard borani soup with yoghurt, crispy garlic and beans | Quick and easy

I am emphatically not a dip person (see also: salad), but the first time I tried chard borani, a Persian dip made with chard and yoghurt, I became so obsessed that we’ve been having it on repeat at home ever since. Today, I’m sharing my soup version, thickened with beans and topped with crisp garlic and brown butter. It’s perfect served with flatbreads, and takes just minutes to put together: a homage to the excellent original.If you’re making this in advance, reheat it very gently so as not to split the yoghurt.Prep 15 min Cook 30 minServes 3-42 tbsp olive oil 1 large onion, peeled and roughly sliced2 garlic cloves, peeled and finely grated400g rainbow or Swiss chard, stems roughly chopped, leaves roughly sliced2 tsp sea salt flakes 1 400g tin haricot beans, drained and rinsed (260g drained weight)Juice of ½ lemon150g natural or greek yoghurt, at room temperature , plus extra to serve For the crisp garlic butter 40g salted butter2 garlic cloves, peeled and finely sliced2 tsp aleppo pepper (optional)Heat the oil in a large, wide-based pan, add the onion and stir-fry on a medium to high heat for five minutes

3 days ago
societySee all
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More than 220m children will be obese by 2040 without drastic action, report warns

1 day ago
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Unemployment set to hit 5.3% this year amid ‘worrying’ rise in young jobless

1 day ago
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Recruiting nurses overseas must work for all | Letter

1 day ago
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Councils’ temporary housing costs to more than double by 2029-30, says LGA

1 day ago
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Quarter of healthy years lost to breast cancer are due to lifestyle factors, research finds

2 days ago
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Scotland becomes first UK country to legalise water cremations

2 days ago