European Stocks Rise After Israel-Iran Ceasefire -- Market Talk
European stocks opened sharply higher after Israel and Iran agreed to a ceasefire, easing a conflict that has rocked markets in recent sessions. The pan-European Stoxx Europe 600 index rose 1.3% in European morning trade, while the Euro Stoxx 50 index of euro zone blue chips jumped 1.75%.
Among national indexes, Germany's DAX rose 1.8%, France's CAC 40 gained 1.5% and Switzerland's SMI gained 1.6%. Travel stocks were among the biggest gainers, with German travel group TUI jumping 8% and French hotel group Accor up 6.1%.
Meanwhile, oil companies fell as crude prices fell. Defense stocks also traded lower.(alg)
Source: Dow Jones Newswires