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LONDON – Europe’s STOXX 600 hit an all-time high on Monday after the United States and Iran reached a preliminary pact to end their war and reopen the Strait of Hormuz, surpassing its previous record hit just before the start of the conflict.
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Many other major indexes in the U.S. and Asia are already trading well above their pre-war peaks, helped by surging technology stocks, which make up a smaller share of the European benchmark, and, in the case of the U.S. investors’ view that it was less exposed economically to the war in Iran.
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The STOXX 600 was last up 0.9% at 638.53 points.
(Reporting by Alun John and Samuel Indyk ; Editing by Amanda Cooper)
Copyright Reuters or USA Today Network via Reuters Connect.