Europe travel stocks jump 4% <\/p>\n
The Stoxx Europe Travel and Leisure index jumped 4% in early trade after U.S. President Donald Trump announced Iran and Israel had committed to a ceasefire.<\/p>\n
London-listed airlines and leisure stocks also topped the Stoxx 600<\/a> in the morning. EasyJet rose 6.5%, InterContinental Hotels<\/a> was up 3.3% and Carnival<\/a> jumped 5.9%.<\/p>\n Multiple airlines announced on Monday they were diverting flights<\/a> in the Middle East as the region’s\u00a0military conflict<\/a>\u00a0continued to disrupt flights. This morning, the office of Israeli Prime Minister Benjamin Netanyahu and Iranian state media outlet Press TV confirmed a ceasefire had begun.<\/p>\n \u2014 April Roach<\/p>\n European defense stocks fall<\/p>\n A Leopard 2 tank gear transmission in a production hall at the Renk AG plant in Augsburg, Germany, on Monday, May 8, 2023.<\/p>\n Bloomberg | Bloomberg | Getty Images<\/p>\n Volvo shares pop 2.3%<\/p>\n A Volvo EX90 on display at The Midway SF on Dec. 3, 2024 in San Francisco, California.\u00a0<\/p>\n Jon Kopaloff | Getty Images<\/p>\n Shares of Swedish carmaker Volvo were up 2.3% in early trade, paring earlier gains.<\/p>\n That came after the firm announced<\/a> on Tuesday morning that its Volvo Construction Equipment arm would sell its ownership in China-based SDLG, and would acquire<\/a> construction machinery supplier Swecon.<\/p>\n \u2014 Chloe Taylor<\/p>\n European stocks open higher<\/p>\n We’re 20 minutes into Tuesday’s trading session, and the regional Stoxx 600 is up by around 1.2%.<\/p>\n Travel and leisure stocks are leading the gains, with airlines jumping after the announcement of an Israel-Iran ceasefire. The Stoxx Travel and Leisure index was last seen trading 4.2% higher, putting it on track for its biggest one-day jump since April 10.<\/p>\n All major bourses are in positive territory, with Germany’s DAX<\/a> index jumping 1.8%.<\/p>\n \u2014 Chloe Taylor<\/p>\n How regional stocks performed yesterday<\/p>\n The London Stock Exchange Group building.<\/p>\n Manuel Romano | Nurphoto | Getty Images<\/p>\n The pan-European Stoxx 600 began the week on a negative note, ending Monday’s trading session around 0.3% lower.<\/p>\n Looking at individual stocks, Monday’s worst performers included Poste Italiane<\/a>, which closed 6.3% lower, Danish jewelry maker Pandora<\/a>, which shed 5.3%, and pharma giant Novo Nordisk<\/a>, which also lost 5.3% during the session.<\/p>\n On Monday, it was announced<\/a> that Novo had ended its deal with U.S. telehealth firm Hims & Hers over concerns about sales of Wegovy copycat drugs.<\/p>\n At the other end of the index, London-listed shares of Spectris<\/a> jumped 15.7% on Monday after it was reported<\/a> private equity firm Advent had agreed to take over the company for \u00a34.4 billion ($6 billion). The company, which makes testing equipment, rejected a bid from private equity giant KKR earlier this month. KKR said Monday that it “strongly encourages [Spectris] shareholders to take no action with regards to the Advent offer.”<\/p>\n \u2014 Chloe Taylor<\/p>\n Here are the opening calls<\/p>\n Sunrise in London.<\/p>\n Getty Images<\/p>\n Good morning from London on Tuesday, and welcome to CNBC’s live blog covering European financial markets and the latest regional and global business news, data and earnings.<\/p>\n Futures data from IG suggests a positive start for European markets, with London’s\u00a0FTSE<\/a>\u00a0looking set to open 0.3% higher at 8,792, Germany’s\u00a0DAX<\/a>\u00a0up 1.1% 23,541, France’s\u00a0CAC 40<\/a>\u00a01% higher at 7,618 and Italy’s\u00a0FTSE MIB<\/a> also up 1% at 39,321.<\/p>\n Global market sentiment rose after President Donald Trump said that there is a ceasefire timeline for Israel and Iran, prompting U.S. stock futures<\/a> and Asia-Pacific markets<\/a> to rise on Monday night.<\/p>\n “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE … for 12 hours, at which point the War will be considered, ENDED!” Trump wrote on Truth Social.<\/p>\n Neither Iran nor Israel has publicly confirmed acceptance of a ceasefire timeline, however.<\/p>\n