Market Report - Europe Close

Europe close: Oil sinks, equities rally on Iran peace hopes

By Josh White

Date: Wednesday 06 May 2026

(Sharecast News) - European shares surged on Wednesday while oil prices plunged after Iran suggested the Strait of Hormuz could reopen and US president Donald Trump paused an operation to protect shipping through the key waterway amid signs of progress towards a peace deal.
The pan-European Stoxx 600 rose 2.28% to...

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