World Shares Decline Thursday          05/28 05:25

   World shares declined Thursday following more of what the U.S. military said 
were defensive strikes against Iran.

   (AP) -- World shares declined Thursday following more of what the U.S. 
military said were defensive strikes against Iran.

   Oil prices gained more than $2 a barrel after having dropped sharply a day 
before.

   In early European trading, Germany's DAX was nearly unchanged at 25,175.63 
and the CAC 40 in Paris lost 0.4% to 8,172.84. Britain's FTSE 100 slumped 0.9% 
to 10,416.62.

   The futures for the S&P 500 and the Dow Jones Industrial Average edged 0.1% 
lower.

   U.S. officials said Central Command forces shot down four Iranian one-way 
attack drones that posed a threat near the Strait of Hormuz. The U.S. military 
also hit an Iranian ground control station in Bandar Abbas that was about to 
launch a fifth drone. Those attacks followed others earlier in the week.

   Meanwhile, President Donald Trump asserted that Iran is "negotiating on 
fumes" and said November's midterm elections in the United States won't make 
him rush into a deal to end the nearly three-month-old conflict.

   During Asian trading, Japan's Nikkei 225 lost 0.5% to 64,693.12, while the 
Kospi in South Korea lost 0.5% to 8,185.29.

   Hong Kong's Hang Seng index shed 1.3% to 25,006.16, while the Shanghai 
Composite index edged 0.1% higher to 4,098.64.

   In Australia, the S&P/ASX 200 declined 1.4% to 8,592.90, while Taiwan's 
Taiex dropped 1.4%.

   "Conflicting reports on the contours of a U.S.-Iran deal dampened risks 
sentiments as markets grow increasingly wary about the possibility of a deal," 
Tan Boon Heng of Mizuho Bank in Singapore said in a commentary.

   "While there is desire to maintain the ceasefire with both Iran and 
(asterisk)the) U.S. toning down language on renewed attacks and persisting with 
indirect channels of communication, it remains remarkably hard to envisage how 
a compromise can be reached on key issues," he said.

   On Wednesday, U.S. stocks inched to more records after oil prices declined 
more than 4%, easing pressure on consumers and businesses worldwide.

   The S&P 500 edged up by less than 0.1% to 7,520.36 and the Dow industrials 
rose 0.4%, to 50,644.28. The Nasdaq composite gained 0.1% to 26,674.73. All 
three indexes set all-time highs.

   Stocks of companies with big fuel bills helped lead the way on hopes that 
lower oil prices will remove a big drag on their profits. Norwegian Cruise Line 
Holdings climbed 6.1%, and United Airlines rallied 6.3%. Delta Air Lines rose 
3% and set an all-time high.

   The price for a barrel of Brent crude oil fell 4.6% to $92.25 after the 
ceasefire between the United States and Iran appeared to hold despite the U.S. 
military launching what it called "self-defense" strikes in southern Iran.

   However, after the latest strikes, in early Thursday trading Brent was up 
$2.14 at $94.44 a barrel.

   A barrel of benchmark U.S. crude gained $2.12 to $90.80. On Wednesday, it 
had fallen 5.5%, to settle at $88.68, back to where it was in mid-April.

   Prices have moderated, after surging to well over $100 a barrel, on hopes 
that the United States and Iran can reach an agreement to reopen the Strait of 
Hormuz and allow oil tankers to exit the Persian Gulf for deliveries again.

   Stocks have been able to run to records despite the painful inflation and 
uncertainty caused by high oil prices largely because companies have reported 
surprisingly strong profits for the start of 2026, and the forecast is for them 
to continue.

   In other dealings early Thursday, the U.S. dollar rose to 159.50 Japanese 
yen from 159.51 yen. The euro slipped to $1.1611 from $1.1626.