After losing as much as 6% this morning, Air France shares are now up 2.2%. It is the kind of dramatic reversal for which Donald Trump is known.

"I am pleased to announce that the United States of America and Iran have had, over the last two days, very constructive and fruitful exchanges toward a full and final settlement of our hostilities in the Middle East," he stated.

"Given the tenor and tone of these deep, detailed, and constructive discussions, which will continue throughout the week, I have instructed the War Department to postpone any military strikes against Iranian power plants and energy infrastructure for a period of five days, subject to the success of the ongoing meetings and discussions."

The entire sector is now trending higher, with WizzAir up 3.4%, IAG and Airbus gaining 3.1%, Ryanair and easyJet rising 2%, and Lufthansa advancing 1.4%...