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European stocks climb on Iran peace hopes
Oil prices have declined to their lowest level in two months, amid expectations of an imminent U.S. acknowledgment of a historic peace agreement with Iran, which is triggering a rally in European stocks. Indices such as the Stoxx 600 rose by 1%, and the German DAX increased by 1.5%. The announcement of the potential agreement led to a significant surge in airline stocks, while geopolitical tensions in the Strait of Hormuz remain ongoing, alongside continued volatile events in global markets.
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