Global Markets | European shares rebound on hopes of Middle East de-escalation
European shares bounced back on Tuesday as investor sentiment was lifted after U.S. President Donald Trump said the war in Middle East could come to a quick end.
By Reuters |
European shares bounced back on Tuesday as investor sentiment was lifted after U.S. President Donald Trump said the war in Middle East could come to a quick end.
The pan-European benchmark added 1.9% to 606.26 points as of 0808 GMT, after closing at its weakest level in more than two months.
Trump on Monday said the conflict with Iran could be over soon, and crude prices fell below $100 after surging to as much as $119 a barrel a day earlier.
Iran's Revolutionary Guards said they would not allow "one litre of oil" to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting Trump to warn that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region.
In Europe, financial stocks were the biggest boost to the benchmark index with the sector jumping 3.7%. Energy stocks fell 1.2% on the tumbling oil prices.
Among individual moves, Volkswagen shares climbed 2% after the German auto group forecast margin recovery after a tough 2025.
Persimmon jumped 8.5% after homebuilder beat expectations for fiscal year 2025 revenue and adjusted pretax profit.
Investors await comments from European Central Bank President Christine Lagarde and Vice-President Luis de Guindos, who are due to speak later in the day.
The pan-European benchmark added 1.9% to 606.26 points as of 0808 GMT, after closing at its weakest level in more than two months.
Trump on Monday said the conflict with Iran could be over soon, and crude prices fell below $100 after surging to as much as $119 a barrel a day earlier.
Iran's Revolutionary Guards said they would not allow "one litre of oil" to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting Trump to warn that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region.
In Europe, financial stocks were the biggest boost to the benchmark index with the sector jumping 3.7%. Energy stocks fell 1.2% on the tumbling oil prices.
Among individual moves, Volkswagen shares climbed 2% after the German auto group forecast margin recovery after a tough 2025.
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Persimmon jumped 8.5% after homebuilder beat expectations for fiscal year 2025 revenue and adjusted pretax profit.
Investors await comments from European Central Bank President Christine Lagarde and Vice-President Luis de Guindos, who are due to speak later in the day.
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