Madrid, June 24 – European stock markets opened higher today, with gains around 1.50%, following the Israeli government’s confirmation that it accepted U.S. President Donald Trump’s proposal for a “bilateral ceasefire” with Iran, which led to a drop in oil prices.
After all European stock exchanges closed in the red on Monday and Wall Street saw gains of nearly 1%, the Frankfurt stock exchange posted the largest increase today with a rise of 1.80%, followed by Paris and Milan, both up 1.55%, Madrid with a 1.44% increase, and London with 0.61%.
The Euro Stoxx 50, an index listing the largest European companies by market capitalization, rose by 1.78%.
In Asia, Tokyo’s Nikkei index closed up more than 1%, while the Hang Seng saw an increase of over 2% shortly before closing. Shanghai’s benchmark index rose 1.15% and the Shenzhen stock exchange increased by 1.68%.
The price of Brent crude oil for August delivery fell more than 5% today on the London futures market after Israel agreed to the ceasefire with Iran proposed by U.S. President Donald Trump.
The U.S. President announced on Monday night in Washington that Israel and Iran had agreed to a ceasefire starting at 5:00 a.m. today (7:00 a.m. in Israel and 7:30 a.m. in Iran).
Around 6:35 a.m., the price of a barrel of North Sea Brent crude oil fell 5.02% to $67.89, while U.S. WTI crude oil dropped 5.21% to $64.94.
