European stocks close higher as Iran war uncertainty lingers
Shares listed in Europe finished higher on Tuesday, as investors continue to monitor developments in the Middle East.
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A bull statue and a bear statue stand outside the Frankfurt Stock Exchange on April 7, 2025 in Frankfurt, Germany.
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Shares listed in Europe closed higher on Tuesday, as uncertainty around a resolution to the Iran war weighed on sentiment throughout the day with markets oscillating above and below the flatline.
The pan-European Stoxx 600 ended the session up almost 0.5%, reversing earlier losses, with most sectors closing in positive territory and most major regional bourses finishing higher. Oil and gas stocks, telecoms, and chemicals led gains, while miners, industrials and retail stocks lagged the broader index.
In corporate news, Bellway shares closed down 17.5% after the U.K. homebuilder warned of "volatility" in the mortgage market caused by inflationary cost pressure.
"Investors will be less pleased to see an erosion of profit margins, with the company's operating margin reducing by 50 basis points," said Oli Creasey, head of property research at Quilter Cheviot.
Beauty conglomerate Estée Lauder said on Monday night that it was in talks with Spain's Puig — owner of Jean Paul Gaultier, Charlotte Tilbury and Rabanne — about a potential merger. Shares of Puig closed 13.4% higher.
Tuesday's gains came after European markets ended Monday's session in broadly positive territory following U.S. President Donald Trump's comments indicating that Washington had held productive talks over a "complete and total resolution" to the Iran conflict.
The president told CNBC's Joe Kernen in a subsequent phone call that he was "very intent on making a deal with Iran." However, Tehran later denied any talks with the U.S. had taken place.
Oil prices — which had fallen sharply after Trump's comments on Monday — rebounded, with global benchmark Brent crude futures last seen 4% higher at $103.97 a barrel.
Brent crude futures
Asian stocks tracked a rally on Wall Street overnight, but pared gains throughout the trading session. In the U.S., equities remained largely unchanged as Wall Street sought to build on Monday's gains.
Outside of equities, gold edged higher Tuesday, with spot prices rising 0.14% to reach $4,411.95 by 12:41 p.m. E.T.
Economic data out of Europe on Tuesday includes a manufacturing PMI print from Germany, an S&P Global flash manufacturing PMI for the U.K., and new car registrations in the EU.
Puig share price
