European Markets Steady amid Israel-Iran Ceasefire and Looming US Trade Deadline

European shares saw a modest rise on Thursday, buoyed by the stability of the Israel-Iran ceasefire while attention shifted to the upcoming July 9 deadline for US trade deals.

The STOXX 600 index increased by 0.2%, with optimism fueled by a potential pause in US tariffs and ongoing trade negotiations. As the deadline approaches, EU leaders are considering whether to swiftly finalize a trade deal with the US or seek more favorable terms through escalation.

Defence and industrial mining sectors recorded gains, while German consumer sentiment edged down. Donald Trump's potential replacement of Federal Reserve Chair Jerome Powell is also a focus, amid broader economic tensions.

(With inputs from agencies.)