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Markets

European Shares Rally On US-Iran War De-escalation Hopes

April 01, 2026 — 05:07 am EDT

Written by

RTTNews.com for

RTTNews->

(RTTNews) - European stocks rallied on Wednesday after U.S. President Donald Trump said the Iran war could end in two weeks sans a deal to re-open the Hormuz, brining a much-needed relief to markets roiled by the conflict.

However, analysts said it could take six to eight weeks more for oil flows to normalize.

"Even if that peace is here tomorrow, still we will not go back to normal in a foreseeable future," the European Union's energy commissioner told a news conference after a meeting of EU energy ministers.

In economic releases, a survey showed the eurozone manufacturing PMI rose from 50.8 to 51.6 in March, marking a 45-month high.

The pan European Stoxx 600 surged 2.3 percent to 596.45 after rising 0.4 percent on Tuesday.

The German DAX, France's CAC 40 and the U.K.'s FTSE 100 were up between 1.7 percent and 2.3 percent.

Banks topped the gainers list, with Commerzbank, Deutsche Bank, BNP Paribas, Credit Agricole and Barclays climbing 4-5 percent.

Oil & gas giant BP Plc tumbled 3.5 percent and peer Shell declined 1.5 percent as Brent crude prices fell below $100 a barrel on signals from U.S. President Donald Trump to end the war in Iran.

Dutch insurer Aegon rallied 2.5 percent after announcing it plans to extend the tenure of Lard Friese as CEO until 2030.

GSK shares climbed 2.3 percent. The British drugmaker and Shionogi & Co. have completed a transaction restructuring the ownership of ViiV Healthcare.

Derwent London surged 2.3 percent after the real estate investment trust agreed to sell Horseferry House for £131.8 million.

Online trading firm IG Group Holdings added 1.5 percent after launching a £125 million share buyback program.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.