US-Iran Deal Boosts European Stocks
The European Stoxx 600 index reached a new record high, rising by 1.2% to 640.94 points, supported by improved investor appetite following the announcement of a preliminary agreement between the United States and Iran to end the conflict and open the Strait of Hormuz, which led to a 4% decline in oil prices. Investors anticipate that the European Central Bank will raise interest rates by 25 basis points before the end of the year, amid expectations of further monetary policies and market developments. Automotive and airline stocks saw significant leaps, while energy stocks declined after the drop in oil prices.
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