The stock market is reacting positively to President Donald Trump’s claim that Iran wants a deal to end the war, which is now in its fourth week. Even crude oil futures are down, signaling optimism over the Trump administration’s eagerness to find an off-ramp from the conflict. But is there an end in sight?
Washington’s view: The U.S. reportedly sent Iran a 15-point plan to end the war, delivered through Pakistani intermediaries. The plan addresses Iran’s ballistic missile and nuclear programs, as well as maritime routes through the Strait of Hormuz, which Tehran has effectively blocked. It remains unclear whether Israel, which has been bombing Iran alongside the U.S., is on board with the proposal. Trump also announced that Iran offered the U.S. a “present” that’s “worth a tremendous amount of money” as a show of good faith amid negotiations. He said the gift was related to energy flows through the Strait of Hormuz.
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Tehran’s response: But Iran has refuted Trump’s claims. “Has the level of your inner struggle reached the stage of you negotiating with yourself?” Ebrahim Zolfaghari, spokesperson for the Khatam al-Anbiya Central Headquarters (Iran’s main military command), asked. “You will see neither your investments in the region nor the former prices of energy and oil again, until you understand that stability in the region is guaranteed by the powerful hand of our armed forces.” Tehran has reportedly set a high bar for ceasefire negotiations, demanding that the U.S. shut down its Gulf bases and pay reparations for its attacks. It also wants to collect fees from ships transiting the Strait of Hormuz and keep its missile program with no negotiations to limit it, among other demands.
Bigger picture: “Markets desperately want to believe in the positive,” UBS’ Paul Donovan noted. “Focus on the apparent 15-point U.S. plan to end the war has received more attention than Iranian dismissals of this, or the fact that passage through the Strait of Hormuz is minimal.” SA analyst Eugenio Catone on Monday said he remained cautious despite Trump’s de-escalation claims. “At this point, I believe that both Iran and Israel are the main actors in this war, so they are the most reliable sources to understand where this conflict is really heading,” he said. “Right now, none of them is stepping back; therefore, I consider the recent stock market enthusiasm as a dead cat bounce.”
JPMorgan’s (JPM) Dimon: Government incentives could limit AI job losses.
Today’s Markets
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In Asia, Japan +2.9%. Hong Kong +1.1%. China +1.3%. India +1.6%. In Europe, at midday, London +1.2%. Paris +1.5%. Frankfurt +1.5%. Futures at 6:30, Dow +0.8%. S&P +0.8%. Nasdaq +1%. Crude -5.1% to $87.67. Gold +3.4% to $4,553.50. Bitcoin +0.3% to $71,352. Ten-year Treasury Yield -3 bps to 4.33%.
On The Calendar
Companies reporting today include Beyond Meat (BYND) and PDD (PDD).
Concurrent Technologies Plc (COTGF) Discusses Full Year Results and Leadership Transition with Strategic Business Updates April 17, 2026 6:30 AM EDT
Company Participants
Miles Adcock – CEO & Executive Director Kim Maria Garrod – CFO & Executive Director
Presentation
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Operator
Good morning, and welcome to the Concurrent Technologies Plc Final Results Investor Presentation. [Operator Instructions]
Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Miles Adcock. Good morning to you.
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Miles Adcock CEO & Executive Director
Good morning, and welcome to our full year results for 2025.
Next slide, please. So my name is Miles. I’m the CEO. This is my fourth set of annual results, and I’m joined by Kim, our CFO. And I should note that at the same time as we issued our full year results, we also announced that Kim has decided to retire at the end of this year. My good friend and colleague, Kim, do you want to say a few words?
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Kim Maria Garrod CFO & Executive Director
Yes. So I achieved a milestone birthday this year, and that made me rethink what I was going to do. So I have decided to retire, but I’m in the business until the end of the year. I’m very excited about the business, and I will be watching it very closely after I’ve gone, and I’ll be regularly calling Miles for updates. But I’m fully committed to the business. And as I say, I’ll be taking out for most of this financial year.
Miles Adcock CEO & Executive Director
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Thank you, Kim. And just to note, Kim has generously given us until the end of the year to seek a replacement, and I’ve engaged Korn Ferry this week, and we’re working hard at finding a worthy successor.
Business groups have urged the government to cut a raft of regulations ahead of the federal budget, but the finance minister says changes have to make sense.
Mumbai: A clutch of large IPOs is expected to prop up India’s primary market in 2026 even as market uncertainty slows down broader activity compared to the previous two robust years, said Ranvir Davda, co-head of investment banking at HSBC India.
“The number of deals may come down, but the size and aggregate value may still be similar (to the previous years),” said Davda in an interview.
Reliance Industries’ telecom arm Jio Platforms, National Stock Exchange, Zepto, PhonePe, Manipal Hospitals and and SBI Funds Management are among the large issuances expected to hit the market in 2026. Together, these issues could raise ₹1 lakh crore (about $10.8-10.9 billion).
So far this year, 20 companies have raised $2.5 billion, according to Prime Database and ETIG Database. That comes after two record years that saw 94 and 115 mainboard IPOs in 2024 and 2025, raising nearly $21-23 billion.
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This year’s IPO fundraise could be between $21 billion and $25 billion.
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“This year, a larger percentage of companies are mid to large-sized,” said Davda. “Many of these are backed by large groups or private equity investors and, therefore, have the flexibility to wait, ride volatility, and avoid pressing forward if valuations are not aligned.” The early part of this year has been slower for the IPO market, with the West Asia conflict weighing on secondary markets, IPO subscriptions and listing gains, prompting several companies to defer offerings. “This year will be volatile. Windows to complete trades will be shorter, so readiness is critical,” Davda said.
At the same time, companies that need capital are showing more willingness to negotiate.
Issuers are increasingly tapping AIFs, family offices and special situations funds alongside traditional investors, while using pre-IPO placements as a bridge to raise capital with visibility to a listing over the next 6-18 months, he said. According to Davda, technology faces sharper scrutiny amid AI disruption, global uncertainty and profitability concerns, though large consumer-tech and fintech offerings are still likely to proceed as “must-own” India exposures.
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