European stocks rise after Trump suspends attack on Iran

SadaNews Economy - European stocks rose on Tuesday after investors welcomed news of the suspension of a U.S. attack on Iran, following Tehran's latest peace proposal, amidst hopes for a near agreement.

U.S. President Donald Trump stated that there is now a "very good chance" of reaching an agreement that limits Iran's nuclear program. Oil prices fell by as much as 2%, but remained above $100 a barrel, while bonds stabilized after a sharp sell-off in recent sessions.

The Stoxx 600 European index rose by 0.4% to 612.81 points, but it is still below pre-war levels.

The German DAX index climbed 0.7% to 24477.50 points, the British FTSE increased by 0.4% to 10373.46 points, and the French CAC jumped about 0.5% to 8029.42 points.

European markets lagged behind their global counterparts, as the region's dependence on oil imports negatively impacted the markets, while U.S. and global markets rebounded, supported by optimism driven by artificial intelligence companies.

Technology stocks related to artificial intelligence are set to face a test on Wednesday when Nvidia, the world's most valuable company, announces its quarterly results.

Shares of Standard Chartered fell by 0.8% after the bank announced plans to lay off more than 7,000 employees over the next four years as part of its efforts to enhance AI adoption.

Shares of Valoric plummeted by 10.3% after ArcelorMittal sold a secondary 10% stake in the French steel pipe manufacturer at a discounted price.