European Stocks Rebound
Stocks in Europe moved higher on Tuesday, with the STOXX 50 up 0.4% and the STOXX 600 gaining 0.3%, after a lacklustre open. Falling oil prices helped lift sentiment, as renewed hopes for a diplomatic solution to the conflict with Iran emerged. Kyodo News reported that Tehran had proposed reopening the Strait of Hormuz within seven days of the blockade being lifted, potentially providing a basis for talks during the UN General Assembly. US President Trump is due to address the assembly in New York and may meet Iranian President Masoud Pezeshkian on the sidelines. Software and retail stocks were among the strongest performers.
3%, after a lacklustre open. Falling oil prices helped lift sentiment, as renewed hopes for a diplomatic solution to the conflict with Iran emerged. Kyodo News reported that Tehran had proposed reopening the Strait of Hormuz within seven days of the blockade being lifted, potentially providing a basis for talks during the UN General Assembly. US President Trump is due to address the assembly in New York and may meet Iranian President Masoud Pezeshkian on the sidelines.
Software and retail stocks were among the strongest performers.