U.S. and Iran exchange fire in Strait of Hormuz

The U.S.-Iranian ceasefire agreement is in danger of falling apart after Tehran targets ships in the Strait of Hormuz. The flare-up sees the UAE also engage Iranian missile and drone fire. Unicredit hikes its guidance after delivering its highest quarterly profit ever. Investor focus is now on the Italian lender’s tender off for Commerzbank due from 11am today. CEO Andrea Orcel tells CNBC he has made his intentions clear to Commerzbank shareholders. HSBC Q1 profit comes in relatively flat at $9.4bn, saying it expects credit losses. However CFO Pam Kaur tells CNBC she remains unfazed by the nature of the bank’s credit trends.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.