Global shrs gain, oil falls on de-escalation hopes

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World shares were trading higher, tracking Wall Street gains, and oil fell on Tuesday as expectations rose over a possible second round of talks between the US and Iran on an end to the Iran war.

In early European trading, Britain's FTSE 100 rose 0.1% to 10,591.45. France's CAC 40 gained 0.6% to 8,285.37, while Germany's DAX was up 1% to 23,980.13. Asian stocks ended higher Tuesday. Tokyo's Nikkei 225 was up 2.4% to 57,877.39. South Korea's Kospi jumped 2.7% to 5,967.75 after briefly topping 6,000 intraday.

Hong Kong's Hang Seng rose 0.8% to 25,872.32, while the Shanghai Composite index climbed 1% to 4,026.63. China on Tuesday reported worse-than-expected export growth of 2.5% in March for the first month since the Iran war began, although some analysts believe Chinese exports of goods related to AI and renewable energy will continue to support overall export momentum for the year.

Australia's S&P/ASX 200 gained 0.5%, and Taiwan's Taiex rose 2.4%.

Investors are still hopeful for a lasting de-escalation of the Iran war, which is in its seventh week, as the US and Iran are said to be weighing a second round of talks before a temporary ceasefire agreement expires next week. The US military on Monday began a blockade of Iranian ports as Washington steps up its pressure on Tehran.