Trump's Iran U-Turn Sends European Stocks Soaring
European stock markets are poised to open higher on Monday following a surprise development in US-Iran relations. President Donald Trump announced that peace talks will resume today after he cancelled a planned attack on Iran, leading to a decline in oil prices and easing concerns over inflation and interest rates.
The move has sent shockwaves through the global markets, with investors eagerly awaiting further developments. In Europe, key economic indicators such as German retail sales and Turkish inflation figures are due for release, while final manufacturing PMI readings from across the region will also be closely watched.
Covestro, Acciona Energia, Morgan Advanced Materials, Autolus Therapeutics, and Salvatore Ferragamo are among the companies set to report earnings today. As a result of the positive market sentiment, Euro Stoxx 50 futures have gained 0.8%, while Stoxx 600 futures have advanced 0.5%. Both benchmark indexes are now within striking distance of fresh record highs.