European stock markets moved higher as investors evaluated the latest developments in the Middle East, new military strikes in Iran, and the drop in oil prices below the $100 mark.

The pan-European STOXX Europe 600 was up 0.22% at 629.40 points earlier today.

London’s FTSE 100 gained 0.06% to 10,497.41 points, while Germany’s DAX rose 0.48% to 25,305.09 points.

Paris’ CAC 40 added 0.39% to 8,205.39 points, while Italy’s FTSE MIB traded 0.32% higher at 50,059.27 points.

In Spain, the IBEX 35 advanced 0.45% to 18,373.30 points.

The war in Iran remains at the center of market attention following new “defensive strikes” carried out by US forces in southern Iran, according to CENTCOM.

The attacks targeted missile launch sites and Iranian vessels reportedly attempting to place mines in the Strait of Hormuz.

In response, Iran’s Foreign Ministry accused the United States of a “blatant violation” of the fragile ceasefire between the two countries.

Marco Rubio stated that the Strait of Hormuz “must be opened one way or another.”

The renewed tensions came despite indications from Donald Trump on Truth Social that negotiations with Tehran were “going well” and that a peace agreement could be close.

Oil prices moved lower early in the session, with Brent crude trading below $98 per barrel and US WTI crude below $92, as markets attempted to assess whether US-Iran talks could still lead to the reopening of the Strait of Hormuz.

In Asia, markets also moved higher, with benchmark indexes in Japan and South Korea reaching new record highs.

Wall Street futures showed limited movement early on Wednesday, following the technology rally that pushed the S&P 500 and Nasdaq Composite to fresh record highs.

No major corporate earnings announcements or macroeconomic data releases are expected in Europe today.

Source: newmoney.gr