Prices rise on European stock markets after US-Iran ceasefire.
European stock markets, registering strong gains, welcomed the ceasefire agreement between Iran and the US at the start of trading today, leading to drop in oil prices.
Before long, the Frankfurt stock market jumped nearly 5% (+4.92%), with shares of large-cap companies rising strongly, including Siemens Energy (+10%) and Airbus (+6.88%).
The stock market in Paris, after a relatively more hesitant opening, posted a significant rise (+3.68%), as did Milan (+3.93%).
London, which is more dependent on oil giants that are recording declines, rose 2.51%. BP shares plunged 8.53% and Shell fell 7.7%.
In Paris, TotalEnergies shares fell 5.63%.
The pan-European benchmark STOXX 600 index rose 3.6% to 611.73 points at 10:13 a.m. GMT.
