Today's Edition
EUROPE (REUTERS)
European shares surged on Tuesday as investors' risk appetite improved after US President Donald Trump announced a ceasefire between Iran and Israel after 12 days of war.
The pan-European STOXX 600 index advanced 1.3% to 542.2 points as of 0908 GMT, set for its biggest single-day percentage gain in over a month, if the trend holds.
Other major regional indexes also traded higher - Germany was up 2.1%, France gained 1.3%, Spain rose 1.4%, and the UK advanced 0.4%.
Trump announced late on Monday that Iran and Israel had agreed to a ceasefire.
Hours later, he confirmed it was now in effect and urged both countries to uphold the agreement.
All major sectors, barring energy and utilities, traded higher.
European travel and leisure stocks led sectoral gains with a 3.6% rise on Israel-Iran ceasefire news.
Shares in airlines rose, with Air France KLM, Wizz Air up 9.4% and 3.5%, respectively.
Europe's largest travel operator TUI jumped 6.9%, among the top gainers in the STOXX 600.
On the flip side, the oil and gas sector lost 2.1%, hitting two-week lows, tracking a fall in oil prices.
Heavyweight BP fell 4.8% and Shell lost 3.1%. Norway's Equinor slipped 6.3% to the bottom of the STOXX.
Among other stocks, Alstom gained nearly 7% after the French train maker signed a 1.7 billion euro ($1.96 billion) contract to supply 96 additional new generation trainsets for a line in France.
Novo Nordisk advanced 1.6% after the Danish drugmaker launched its blockbuster weight-loss drug Wegovy as a once-a-week injection in India.
