European Stocks Gain on Optimism Over Strait of Hormuz Reopening

Global Market | European shares inch up as investors assess US-Iran agreement

STOXX 600 edged up 0.3% to 636.01 points following a US-Iran agreement to reopen the Strait of Hormuz; Brent crude eased to $82/barrel. Central banks hiking rates (ECB +25bp, BoJ 31-year high) while AI-tech stocks declined 0.2%: rising capital costs pressuring valuations in a tightening cycle.