European shares ticked higher on Tuesday after investors welcomed news that the US had paused an attack against Iran following Tehran’s latest peace proposal.
Oil prices fell as much as 2% even as they remained over $100 a barrel, while bonds steadied after a steep selloff in the past few sessions.
The pan-European STOXX 600 rose 0.2% to 611.22 points, as of 0702 GMT, but stayed below prewar levels.
European equities have lagged behind global peers, with the region’s dependence on oil imports weighing on markets, while US and global markets have rebounded on artificial intelligence-led optimism.
The AI trade and the tech rally will face a test on Wednesday when the world’s most valuable company, Nvidia, reports its quarterly results.
