European stocks rose more than 3% on Wednesday, after global markets breathed a sigh of relief following a conditional ceasefire agreement between the United States and Iran.
The pan-European STOXX 600 index rose 3.5% to 611.48 points.
The German DAX index rose by about 4.6% to 23994.55 points, the British FTSE index climbed by 2.3% to 10592.31 points, and the French CAC index jumped by 4.02% to 8228.28 points.
Angofagasta, Lufthansa and easyJet were among the biggest gainers in morning trading, with each of them seeing gains exceeding 10%.
Shell, the first major energy company to release its earnings since the conflict with Iran began, reported significantly higher oil trading profits, amid the war's impact on liquefied natural gas production, which fell from 948,000 barrels of oil equivalent in the fourth quarter of 2025 to 880,000-920,000 barrels of oil equivalent in the first three months of 2026.
Global markets saw a significant rise and fall in oil prices last night, after US President Donald Trump announced on Tuesday evening that he had agreed to suspend planned attacks on Iranian infrastructure for two weeks, provided that the Islamic Republic of Iran agrees to fully, immediately and safely reopen the Strait of Hormuz, as he wrote on the Truth Social platform.
For his part, Iranian Foreign Minister Abbas Araqchi, in a post on the “X” platform on behalf of the Supreme National Security Council, said that the Iranian armed forces would cease their defensive operations.
