The second day of the week brings a strong rebound across European and global equity markets. Germany's DAX index is up 1.15% today, trading around 23,800 points, while other European indices are also posting gains of 1.00–2.00%.
Investor enthusiasm stems from President Trump’s announcement of a ceasefire after the close of U.S. trading yesterday. This triggered a swift rally in risk assets and a drop in oil prices. The ceasefire was set to take effect at 4:00 PM GMT. Trump’s statement helped push oil prices lower. It was later revealed that the U.S. had been informed in advance of Iran’s attacks, suggesting the final strikes were controlled. Israel agreed to the ceasefire on the condition that Iran halts further aggression. Reports indicate Iran assured the U.S. it would not escalate the situation. The White House confirmed that both sides are currently observing the truce.
Unfortunately, later updates painted a different picture. Israel reported identifying missiles launched toward its territory from Iran. Meanwhile, Iran’s nuclear chief stated that steps have been taken to fully restart the country's nuclear industry. These developments led to slight profit-taking and a pullback in the main indices. However, markets have since returned to strong gains.
Across European markets, the majority of stocks are trading higher today. Source: xStation 5
DE40 (daily interval)
The index is up 1.15% today, reaching 23,800 points. The rally followed a successful defense of the key support level near 23,200 points. The next resistance lies at 24,000, followed by the all-time high around 24,350 points.
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