Trump says temporary ceasefire agreement ends, Maersk shares rise

Glonghui, July 8 — At the NATO summit held in Ankara, Trump stated that, as far as he was concerned, the Iran ceasefire was over, following which Maersk's stock price rose. Container operators like Maersk benefit from rerouting ships to avoid Middle East conflicts, as this reduces shipping capacity and drives up freight rates. The Danish shipping group raised its profit forecast last week after observing persistently strong demand and continued freight increases. After Trump’s comments, Maersk shares rose as much as 4.3%. Shares of German shipping giant Hapag-Lloyd rose 1.5%.