European stocks set to soar after US-Iran ceasefire announcement

European stock markets are set for significant gains after the announcement of a two-week ceasefire between the United States and Iran, which includes the condition to reopen the Strait of Hormuz.

According to France24, futures contracts indicate a strong market response.

Forecasts suggest the Frankfurt index could rise by 5.3% compared to the previous close, with trading yet to begin (07:00 GMT). Paris (+4.35%) and Milan (+4.64%) are also expected to start strongly. London, more dependent on oil companies anticipating lower oil prices, may rise by 2.91% as of 06:31 GMT, half an hour before the session opens.