Optimistic signs of a US-Iran peace agreement boosted European stock markets.

As positive news of a ceasefire agreement between the United States and Iran spurred a broad rally in Asian stock markets, European stock markets are also expected to open higher.

As of 2:35 p.m. Singapore time, futures tracking the Stoxx Europe 600 Index rose 1.6%; German DAX futures and French CAC 40 futures rose 1.7% and 1.4% respectively.

Tensions in the Middle East have eased, and the S&P 600 index rose sharply on Friday (June 12), nearing a record high.

Since March, European stock markets have generally underperformed those of the US and China, primarily due to the continent's reliance on oil supplies from the Strait of Hormuz. The European Central Bank raised interest rates by 25 basis points last week amid concerns that rising energy prices would trigger inflation.

News that the Middle East war was nearing its end sent Asian stock markets surging at the open on Monday (15th). Japanese and South Korean stocks rose by more than 5%.

The Straits Times Index in Singapore also opened higher and continued to rise. As of 3:16 pm, the Straits Times Index was up 1.15% or 57.90 points, at 5083.70 points.

Among other major stock indices, the Nikkei 225 index gave back some of its gains but still rose 4.99% to 69,317.50 points. The South Korean KOSPI index closed at 8,545.98 points, up 422.36 points or 5.2%.

The stock markets in Hong Kong, Shanghai, Shenzhen, Taiwan, and Australia saw gains ranging from 0.48% to 3.42%.

Source: [Lianhe Zaobao] (https://www.zaobao.com/finance/world/story20260615-9208452)