European equity markets posted gains as investor sentiment improved after U.S. President Donald Trump cited "great progress" toward a comprehensive peace agreement with Iran. With oil prices retreating, the pan-European STOXX 600 climbed 1% to 615.62 points as of 0703 GMT, marking a second consecutive day of advances.
Major national bourses also registered solid gains. London’s FTSE 100 and Spain’s IBEX 35 each rose by more than 1%, joining the broader uptick across regional markets. The advance comes even though energy-heavy Europe has lagged some global peers that have recently reached record highs driven by optimism around artificial intelligence.
On the corporate front, several quarterly reports produced notable stock moves. Novo Nordisk, the maker of the weight-loss drug Wegovy, climbed nearly 7% after reporting first-quarter revenue and adjusted operating profit above market expectations and nudging up its full-year outlook slightly. By contrast, Norwegian energy company Equinor dropped about 5% following its quarterly update. German automaker BMW added 4.6% after releasing its latest quarterly results.
The market reaction reflects a combination of macro headlines and company-level earnings that are keeping investors attentive to both geopolitical developments and corporate performance. Lower oil prices weighed on energy names while strength in healthcare and autos supported gains in other parts of the market.
Also highlighted in market commentary was a tool-oriented sales pitch referencing investment screening: an AI-driven product called ProPicks AI was described as evaluating EQNR alongside numerous other companies using more than 100 financial metrics, aiming to identify stocks with favorable risk-reward profiles. The promotional text cited past winners and asked whether a $2,000 investment in EQNR would be advisable given the AI's assessments.
Market context
- STOXX 600 up 1% to 615.62 points as of 0703 GMT, second day of gains.
- FTSE 100 and IBEX 35 each rose over 1%.
- Oil prices fell, contributing to weakness in energy stocks while supporting broader sentiment.