European Stocks Jump 2 Percent on Iran Peace Deal Hopes
The pan-European STOXX 600 index closed up 2.2 percent on Wednesday as reports of a potential peace deal between Washington and Tehran sent oil prices lower and lifted market sentiment. Strong corporate earnings from companies like Novo Nordisk and BMW further supported the broad-based rally.
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The STOXX 600 rose 2.2% on Wednesday as optimism over a potential United States and Iran peace deal boosted risk appetite. The index hit 623.25 points, its highest level since April 17, while crude oil fell nearly 7%. Lower energy costs and strong corporate earnings are tempering inflation fears for European investors.
