European stocks climb after reports of U.S.-Iran talks in Islamabad
European stocks got a boost on Tuesday, with the STOXX 600 hitting its highest intraday level since March 3.
The rally came after news of possible U.S.-Iran peace talks in Islamabad, which made investors feel more confident and even pushed oil prices below $100 per barrel.
Tech and industrial shares lead gains
Tech and industrial shares led the gains, rising 1.2% and 1.9%, respectively. Banks also edged higher.
Meanwhile, luxury giant LVMH slipped a bit as spending from Gulf countries slowed down.
Intertek Group soared 12.4% after exploring a potential separation of parts of its business, while chemicals company Sika jumped 9.4% after reporting a narrower-than-feared organic decline in the first quarter.
On the flip side, Imperial Brands dropped 8% due to worries about Middle East tensions hurting sales.
As analyst Craig Cameron put it, these peace talks could help calm things down for global markets.