European stocks on track for best day since April: Stoxx 600 jumped 2%

European stocks rose sharply at the opening of trading on Tuesday, March 10, as investor sentiment - after a panic sell-off the previous day - was supported by a drop in oil futures following President Trump's announcement of a possible imminent end to the war in the Middle East and a willingness to take measures to curb rising energy prices.

The pan-European Stoxx 600 index jumped 2%, which could be the strongest daily gain since April 2025, Bloomberg notes. The rebound could interrupt the Stoxx 600's three-day streak of declines and partially offset last week's nearly 6% plunge, CNBC reported .

All sectors - with the exception of oil and gas - were trading in the positive zone. The Stoxx Europe Oil and Gas index of oil and gas companies fell by about 1%, reflecting the decline in oil prices, the TV channel notes.

Britain's FTSE 100 added 1.5%, Germany's DAX rose 2.1% and France's CAC 40 gained 1.7%.

At the time of publication of this text, Brent crude oil was depreciating by more than 9%, its price falling below $90 per barrel. Futures for North American West Texas Intermediate (WTI) lost 8.5% of their value.

"We're still not out of a difficult situation," Bloomberg quoted Joachim Clement, head of strategy at Panmure Liberum, as saying. He said the markets will see limited gains until there are clear signs of an end to the fighting in the Persian Gulf and the restoration of shipping through the Strait of Hormuz.

This article was AI-translated and verified by a human editor