European stock markets opened nearly 1% higher, boosted by a temporary halt in US-Iran attacks, as investors await earnings reports from major US tech companies.
European stock markets opened nearly 1% higher after tensions between the US and Iran temporarily eased. Attention is focused on earnings reports from major US tech companies including Microsoft, Meta, Amazon, and Apple.
July 27, 2569 at 14.34:XNUMX a.m., Reuters reported that European stock markets rose nearly 1% in Monday's (July 27) trading. Following a temporary easing of tensions between the US and Iran over the weekend, crude oil prices fell, boosting investor confidence in risky assets. Meanwhile, markets are watching for earnings announcements from major US technology companies, which could be a key indicator of future market direction.
The STOXX 600 index includes large-cap stocks across Europe. The index rose 0.8% to 649.34 points at 07:06 GMT. Lufthansa and International Airlines Group (IAG), owner of British Airways, both gained 3.7%, while Ryanair increased 3.4%.
Investment sentiment was boosted after a senior Iranian official told Reuters that Iran was ready to end the attacks if the United States also ceased its military operations. This followed Washington's decision to temporarily suspend bombing amid concerns about the use of a large arsenal.
The news caused Brent crude oil prices to fall by about 6%, trading near $90 per barrel.
Falling oil prices pressured energy stocks, pushing them down 2%, making them one of only two industry groups in the STOXX 600 to be in negative territory, along with utilities.
Conversely, lower oil prices boosted travel and leisure stocks, which rose 2.4% as airlines' fuel costs were projected to decrease.
This week, global investors are also watching for the latest quarterly earnings announcements from major US technology companies, including Microsoft, Meta Platforms, Amazon, and Apple, to assess whether the investment trend in AI stocks still has enough momentum to drive the market further.
refer : www.reuters.com
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