European stocks climb on Iran peace prospects
European stocks surged sharply today, Friday, driven by news of a potential historic peace agreement between the United States and Iran over the weekend, which boosted optimism about easing geopolitical tensions. The Stoxx 600 index reached its highest level in two weeks, with gains in Germany, France, England, and Italy. Airline stocks rose due to the decline in oil prices, while tensions in the Strait of Hormuz kept existing risks ongoing. This follows the European Central Bank's decision to tighten interest rates to counter inflation resulting from the war.
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