European Stocks Rise on Ceasefire Hopes
The benchmark Stoxx Europe 600 index increased by 0.41%, finishing at 583.14 points.
Among the major exchanges, the UK’s FTSE 100 rose by 0.48% to 10,176.45. Germany’s DAX 40 gained 0.52% to reach 22,680.04, while France’s CAC 40 climbed 0.57% to 7,816.94. Italy’s FTSE MIB 30 performed the strongest, advancing 1.11% to 44,309.71.
The euro also strengthened, with the euro/dollar exchange rate rising by 0.76% to 1.1549 as of 1730 GMT.
Investors reacted positively to reports suggesting that Donald Trump may be willing to stop attacks on Iran, increasing hopes for reduced tensions in the region.
Despite the gains seen on Tuesday, the Stoxx Europe 600 ended March down by 8%, marking its steepest monthly drop since mid-2022.
Meanwhile, annual inflation in the eurozone rose to 2.5% in March, mainly due to higher energy prices, reaching its highest level since May 2022 amid continued tensions in the Middle East.
In addition, the European Commission urged member states to encourage people to use fewer cars and reduce air travel because of the impact of Middle East developments on energy supplies.
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