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European Midday Brief · Monday 26 October 2026

The Trade Academy Team

Oct 26

1 min read

Oil eases on hopes of talks and Lula wins in Brazil — as a week of central banks and Big Tech begins
Brent climbed above $117 on Friday, its highest in nearly six months, but has eased 1.4% to $115.05 today as Saudi, Turkish and Pakistani officials prepare for talks with Iran and President Trump said the United States would not strike Iran "today". The relief is fragile: a US intelligence memo warns that Tehran has stepped up efforts to target American personnel. In Brazil, Lula won a fourth term, defeating Flávio Bolsonaro, who rejects the result, and Santander has fallen 3.6%. European shares are higher at midday, with Genmab up 13.6% on cancer-drug data. The week brings decisions from the Fed, the ECB and the Bank of Japan, the UK budget and results from Microsoft, Alphabet and Amazon. — Oil eases on hopes of talks and Lula wins in Brazil — as a week of central banks and Big Tech begins

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