European shares edged higher on Tuesday after investors reacted positively to reports that the United States had paused a planned strike on Iran following Tehran’s latest peace proposal, raising hopes that a potential agreement may be close, News.Az reports, citing Reuters.
US President Donald Trump said there was a “very good chance” of reaching a deal aimed at limiting Iran’s nuclear program.
Oil prices fell by as much as 2%, although they remained above $100 per barrel, while government bonds stabilized after a sharp selloff in recent sessions.
The pan-European STOXX 600 index rose 0.2% to 611.22 points as of 0702 GMT, although it remained below pre-conflict levels.
European equities have underperformed global markets, partly due to the region’s reliance on oil imports, while US and global stocks have been boosted by optimism around artificial intelligence.
The AI-driven rally will be tested on Wednesday when Nvidia, the world’s most valuable company, reports its quarterly earnings.
Among early market movers, Standard Chartered slipped 0.8% after announcing plans to cut more than 7,000 jobs over the next four years as it accelerates AI adoption.
Meanwhile, Vallourec dropped 10.3% after ArcelorMittal sold secondary shares representing a 10% stake in the French steel tube maker at a discounted price.
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