April 2026 – Markets rebound on strong earnings despite geopolitical uncertainty

Global financial markets rebounded sharply in the first month of the quarter as investors proved resilient despite the still-tense geopolitical environment. Even though the conflict in the Middle East continued, disrupting energy flows in the Strait of Hormuz, the markets advanced, driven mainly by a solid corporate earnings season. 

Global equities turned in strong performances in April, largely erasing their March losses. The renewed risk appetite reflected an improvement in investor confidence amid expectations that the conflict could stabilize. At the same time, major central banks—including the Federal Reserve, the European Central Bank, the Bank of England and the Bank of Canada—left their key rates unchanged, despite inflationary pressures from higher energy prices.