European Markets Rise Amid Middle East Peace Optimism

European shares edged higher on Tuesday, buoyed by renewed optimism about ongoing Middle East peace negotiations, with eyes on the impending Iran-U.S. ceasefire deadline.

As of 0713 GMT, the pan-European STOXX 600 index was up 0.1% at 621.99 points. Major markets, including Germany's DAX and London's FTSE 100, showed subdued gains, adding 0.6% and 0.1% respectively.

Diplomatic efforts continue as U.S. and Iranian officials express cautious hope for progress in peace talks possibly set to resume soon in Pakistan. Despite unresolved issues, the stocks rebounded from Monday's losses, while early trading saw a dip in oil prices, reflecting investor optimism for resumed negotiations after initial talks in Islamabad faltered.

Technology emerged as the leading sector with a 1% rise, while the healthcare index fell 0.6%. Meanwhile, Royal Unibrew's shares dropped 13%, experiencing its worst dip since October 2022, following news of the end of its collaboration with Pepsi traders in northern Europe.

(With inputs from agencies.)