Iranian state television reported that Tehran had obtained an unofficial initial draft framework for a memorandum of understanding with the United States. Under the purported deal, Iran would restore commercial maritime traffic in the Strait of Hormuz to pre-war levels within one month. Washington would reportedly withdraw its military forces from the vicinity of Iran and lift its naval blockade.

Shortly before 5 PM, Reuters reported that the White House denied the information from Iranian-controlled media, denouncing a 'fake memorandum of understanding' and 'pure fabrication'. 'This report from Iranian state media is not true and the draft framework agreement they +published+ is a total invention. No one should believe a word of what Iranian state media puts out', the US executive replied via one of its official X accounts, Rapid Response 47.

Furthermore, China is assuming the role of mediator in peace negotiations between the United States and Iran. Chinese Foreign Minister Wang Yi reiterated China's call for a ceasefire in the Middle East. He expressed hope that Washington and Tehran would seek a compromise, state agency Xinhua reported on Wednesday.

Tehran accuses Washington of breaching ceasefire

As for the Iranian Revolutionary Guard, they estimated this Wednesday that a resumption of war with the United States was unlikely amid diplomatic dealings, while stating they remain ready to face any new attack.

Yesterday, Iran criticized the United States for violating the ceasefire following overnight American strikes in the south of the country, which deal a blow to credible progress in negotiations to end the war in the Middle East. 'The American terrorist army, continuing its illegal and unjustified actions since the ceasefire (...), has committed a flagrant violation of the ceasefire in the Hormozgan region over the last 48 hours', the Ministry of Foreign Affairs detailed, without specifying the nature of the incidents.

'The probability of war is low due to the enemy's weakness', said Mohammad Akbarzadeh, a senior official in the Guard's naval forces, quoted by the Tasnim news agency. However, 'the armed forces remain on alert, their magazines full', he added, vowing to 'transform the area' from the east to the west of the Gulf into 'a graveyard for aggressors'.

Oil: prices resume downward trend

In this tense geopolitical context, oil prices are falling again. After 5:45 PM, Brent lost 3.47% to 95.83 dollars. WTI shed 3.53% to 90.15 USD.

In corporate news, Capgemini (-3.50%) suffered one of the sharpest declines on the CAC 40 despite showing optimism while unveiling its 2028 targets. Investors appeared unconvinced by the roadmap presented this morning by the French IT services giant. While Oddo BHF considers the medium-term targets satisfactory, with a better-than-expected revenue growth forecast, it also noted a margin target below expectations.

Between 2025 and 2028, the digital services company expects to achieve a compound annual growth rate in revenue of 5.5% to 7.5% at constant exchange rates, with approximately 2 points coming from M&A. Over the same period, it also expects to increase its operating margin before acquisition-related charges by 130 to 150 basis points, reaching 12.1% to 12.3% of revenue. Finally, cumulative organic free cash flow is expected to exceed 6 billion euros over the 2026-2028 period.

Conversely, Renault stood out within the CAC 40 with a 4.33% gain, supported by Reuters reports regarding the group's activity in Spain. According to the news agency, the carmaker and Spanish labor unions have reportedly reached an agreement in principle. The deal would involve the manufacturing of five new models at the Palencia and Valladolid sites, and the preservation of 6,000 jobs.

Carrefour (+0.56%) announced on Wednesday the launch of a tender offer for two bond lines maturing in 2027 and 2028, with a maximum acceptance amount set at 200 million euros.

Akzo Nobel dominated the AEX 25, surging 19.54%. The paints and coatings specialist jumped on the Amsterdam Stock Exchange following its May 1st rejection of an offer from Nippon Paint Holdings and The Sherwin-Williams Company. Specifically, this was a conditional and non-binding proposal from these two groups for all issued and outstanding shares of AkzoNobel at an indicative price of 73 euros in cash per share. The offer followed an initial proposal submitted on April 16 and rejected on April 22.

After the close, investors will review Soitec's annual results.

On the macroeconomic front, French consumer confidence deteriorated again in May 2026, according to Insee's synthetic indicator, which fell by two points to 82, its lowest level since March 2023. It thus moves further away from its long-term average (100 between January 1987 and December 2025).