European Stocks Edge Higher as Trump Declares Israel-Iran Ceasefire
(MENAFN) European equities closed sharply higher on Tuesday, fueled by renewed investor confidence following US President Donald Trump’s announcement of a ceasefire between Israel and Iran, ending the conflict that erupted on June 13.
The broad-based Stoxx 600 index advanced 1.11%, gaining 5.95 points to finish at 540.98.
Germany’s DAX 40 led the gains, climbing 1.6% to close at 23,641.58, while the UK’s FTSE 100 edged up marginally by 0.01% to 8,758.99.
France’s CAC 40 rose 1.04%, settling at 7,615.99, and Italy’s FTSE MIB 30 jumped 1.63% to reach 39,474.46 points.
Germany’s Ifo Business Climate Index continued its positive streak in June, rising to 88.4 points for the sixth month running. Analysts attribute the improvement to interest rate reductions and the government’s substantial fiscal stimulus, which have bolstered corporate confidence in the economic outlook.
Meanwhile, the euro strengthened approximately 0.35% against the US dollar by 1630 GMT, trading at 1.1618.
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