FRANKFURT/PARIS (dpa-AFX) - Prospects of a de-escalation in the Iranian conflict sent European equity markets surging on Friday. The German benchmark DAX index extended its intraday gains significantly, rising 2 percent to 24,627 points. Its Eurozone counterpart, the EuroStoxx 50, climbed 1.8 percent.
The Strait of Hormuz "will be fully open to all merchant vessels for the remaining duration of the ceasefire," Iranian Foreign Minister Abbas Araghchi announced in a post on the X platform. This development significantly eased recent economic and inflation concerns. Oil prices and yields retreated sharply./la/he
