European shares climbed more than 1% today after US President Donald Trump announced a ceasefire between Iran and Israel, boosting investor sentiment and risk appetite across global markets.
The CAC in Paris was up 132 points (1.76%) to 7,670, while the DAX in Frankfurt was up 440 points (1.89%) to 23,709 and London's FTSE index was up 51 points (0.58%) to 8,809.
Dublin's ISEQ index was up 2.26% to 11,333. Shares in Ryanair were up 4.28% to €23.88, while shares in Cairn Homes were up 2.82% to €2.19. Meanwhile, shares in Irish Residential Properties REIT were down 0.57% to €1.04, while shares in Uniphar were down 0.4% to €3.72.
Wall Street rallied yesterday as prospects of the US Federal Reserve cutting interest rates as early as July offset uncertainty about escalating turmoil in the Middle East. All three major US stock indexes closed sharply higher. The Dow Jones was up 374 points (0.89%) to 42,581, while the S&P 500 was up 57 points (0.96%) to 6,025 and the Nasdaq was up 183 points (0.94%) to 19,630.
