European equities surged as investors bet on a potential resolution to the conflict with Iran, easing fears of prolonged geopolitical tensions. The STOXX Europe 600 index climbed to a new intraday high amid the optimism.
- European stocks surged on optimism for an Iran war resolution
- STOXX Europe 600 (^STOXX) hit an intraday high
- Crude oil futures (CL=F) declined as conflict de-escalation hopes rose
- VIX volatility index (^VIX) dropped, indicating reduced market uncertainty
- Energy and defense sectors saw gains amid shifting risk perceptions
- UK labor data release scheduled for Tuesday adds to market focus
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