European Markets Rally Amid Middle East Ceasefire Developments

European shares skyrocketed as investors grew optimistic following a ceasefire between Iran and Israel announced by U.S. President Trump. The pan-European STOXX 600 led gains across major indices, despite continued tension following alleged missile attacks. Sectors, except for energy and utilities, reported growth.

European stock markets soared on Tuesday, propelled by a renewed confidence among investors after U.S. President Donald Trump declared a ceasefire between Iran and Israel following 12 days of conflict.

Despite the encouraging news, tensions remained palpable with Israeli Defence Minister Israel Katz confirming military orders to strike Tehran in response to alleged missile attacks, a claim that Iran's ISNA news agency swiftly denied. Nevertheless, the European markets maintained their upward momentum.

The pan-European STOXX 600 index experienced notable growth, climbing 1.3% to 542.2 points by 0908 GMT. Meanwhile, major markets in Germany, France, Spain, and the UK mirrored this upward trajectory, reflecting hopes for sustained peace. Comments from leaders emphasized a collective will for peace, underscoring the tenuous balance amid volatile circumstances.

(With inputs from agencies.)