12.06.202607:26:15UTC+00European Stocks Rise by Over 1% on Friday

The Stoxx 50 and Stoxx 600 advanced more than 1% on Friday, supported by a decline in oil prices after President Trump halted plans for additional strikes on Iran. Travel, construction, and automotive stocks led the gains, while energy shares slightly lagged. Among major European names, ASML Holding added 0.8%, LVMH jumped 3.3%, and Siemens rose more than 2%. Trump said a peace agreement with Iran could be reached as early as this weekend in Europe, adding that the Strait of Hormuz would reopen once a deal is finalized and that Tehran would pledge to refrain from developing nuclear weapons. On the macroeconomic front, UK data showed the economy contracted by 0.1% in April after two months of growth, with the Middle East conflict beginning to weigh on activity. Meanwhile, the European Central Bank raised interest rates for the first time in nearly three years and signaled that a restrictive monetary stance could remain in place through 2027.