European Stocks Advance as Oil Prices Drop on Iran Truce Hopes

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessEuropean Stocks Advance as Oil Prices Drop on Iran Truce HopesEuropean stocks advanced as oil prices retreated on signs of easing tensions in the Middle East, while investors parsed the latest corporate earnings.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.rda02]8p4m)y1ea7znls{}7p_media_dl_1.png Bloomberg(Bloomberg) — European stocks advanced as oil prices retreated on signs of easing tensions in the Middle East, while investors parsed the latest corporate earnings.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Stoxx Europe 600 Index rose 0.6% at 8:30 a.m. in London. Travel and leisure shares were among the biggest gainers, with TUI AG and Deutsche Lufthansa AG up more than 2%. AstraZeneca Plc climbed after reporting higher-than-expected profit, buoyed by the UK pharma company’s blockbuster cancer medicines.Energy stocks were leading losses, weighed down by sector heavyweights such as TotalEnergies SE and Shell Plc.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againBrent crude fell 6.0% to trade at $91 per barrel after the US paused an almost two-week run of strikes against Iran for a second night while the Islamic Republic signaled it was refraining from any retaliatory attacks.“I think we have a higher chance of a lasting deal going forward,” said Stephan Kemper, chief investment strategist at BNP Paribas Wealth Management. “With little meaningful targets left and air defense capabilities depleted, the only viable option seems to be negotiations.”The European benchmark closed higher last week as strong company results buoyed sentiment. The Stoxx 600 index is on track to deliver its strongest first-half earnings growth in the past three years, according to Goldman Sachs Group Inc. strategists. Still, gains have been concentrated in a handful of names this year. Almost 60% of the region’s 8.8% advance has been driven by just 10 stocks, with ASML Holding NV alone contributing nearly a quarter of the gains.In other individual stocks, Zabka Group SA fell 11% after Japan’s Seven & i Holdings Co. ended talks over a potential investment in the convenience store chain.For more on equity markets:Luxury’s Earnings Turnaround Is Still a While Away: Taking StockM&A Watch Europe: Commerzbank, DCC, Irish Continental, PinewoodStock Futures Rise as Oil Declines on Pause in US-Iran StrikesYou want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.—With assistance from Michael Msika.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.