European stocks hit record high on company results

European stocks reached a new record high, supported by strong corporate earnings and expectations that the United States and Iran will reach a peace agreement, in addition to progress in reopening the Strait of Hormuz. The Stoxx 600 index rose by 0.5%, reaching 660.22 points, with forecasts that the earnings of Stoxx 600 companies will increase by approximately 21% in the second quarter, compared to previous expectations of 12.5%. The announcement of solid results from companies such as Deutsche Telekom and WPP boosted the market, despite some sectors performing variably, as optimism grew about political de-escalation in the Middle East and the potential improvement in risk appetite.

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