FRANKFURT (dpa-AFX) – The ceasefire between Israel and Iran gave European stock markets a strong boost on Tuesday. While oil prices plummeted, investors on the stock market breathed a sigh of relief. The major stock exchanges in the Far East had already reacted positively on Tuesday.
The DAX broke out of its recent downward trend, which it had entered after reaching a record high in early June, by jumping 1.86 percent to 23,702 points in early trading. However, it remained below its 21-day line, which is a popular trend indicator.
The MDax also rose significantly, by 1.45 percent to 29,708 points. The EuroStoxx, the leading index for the eurozone, also gained 1.7 percent.
According to US President Donald Trump, a ceasefire is said to have come into effect between Israel and Iran. Iran’s state broadcaster confirmed the ceasefire, followed shortly afterwards by the Israeli government.
Oil prices fell well…
