Stocks surge as Iran war deal prospects boost risk appetite
The prospect of a deal to end the Iran war has driven stocks higher, with the pan-European STOXX 600 up 0.7% at 629.24.
Nasdaq futures were 1.4% higher and S&P futures were up 1%, despite liquidity being thin due to market closures in Britain and the United States.
The conflict in the Middle East has driven energy prices sharply higher and reshaped the global rates outlook, with inflation concerns intensifying following Tehran’s shutdown of the Strait of Hormuz.