European stocks trim losses on Strait of Hormuz news
European shares recovered from session lows on hopes for a reopened Strait of Hormuz. Markets remained cautious amid geopolitical tensions and thin holiday trade.
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European equity markets recovered from earlier session lows on Thursday as diplomatic efforts regarding the Strait of Hormuz provided a glimmer of hope, despite ongoing geopolitical tensions between the United States and Iran. The pan-European STOXX 600 index concluded the day with a modest decline of 0.2% at 596.63 points, a significant improvement from its intraday drop of 1.6%.
