Traders work on the floor of the New York Stock Exchange during morning trading on April 13, 2026 in New York City.
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LONDON – European stock markets closed higher on Tuesday on hopes that peace talks between the United States and Iran could resume despite the Iranian port blockade taking effect.
pan-european Stocks 600 The index rose almost 1%, with all major exchanges ending the day in positive territory.
The US military began blockading Iranian ports on Monday, a development that threatens to further reduce global oil supplies in coming months.
But oil prices fell amid signs that peace talks could continue despite the blockade. brent crude oil Down 4.2% to $95.15 per barrel, U.S. west texas intermediate The price fell 6.7% to $92.45.
U.S. Vice President J.D. Vance said Monday, after returning from weekend talks that failed to produce a breakthrough, that peace efforts between the U.S. and Iran now depend on Tehran.
Reuters reported on Tuesday morning that talks could resume in Islamabad as early as this week, according to sources.
President Donald Trump also said on Monday that the United States had been “called out by the other side,” adding: “They very much want a deal.” Separately, Trump was asked whether the purpose of the blockade was to force Iran to reopen the Strait of Hormuz or to bring it to the negotiating table. “It’s certainly both and more,” the president said.
Meanwhile, China called the US blockade “dangerous and irresponsible.” A Foreign Ministry spokesperson said the move, coupled with the expansion of US military deployments, risked undermining the “already fragile ceasefire situation”.
Novo Nordisk announced in company news that it is partnering with OpenAI to “bring new and better treatment options to patients faster.”
The partnership will enable AI-based analysis of complex datasets, identification of promising new drugs, and reduce the time it takes for drugs to move from research to patient use, the company said in a statement. Novo stock ended the day up 2.3%.
Meanwhile, stocks of luxury retailers LVMH The stock was little changed after disappointing quarterly results that fell short of expectations on Monday, but it closed above the day’s low.
European investors are also monitoring the following earnings updates: kering, Givaudan, deer and publicis groupe. The data release also included inflation in Spain.
Asia-Pacific markets rose overnight, but the US S&P500 Last seen 1% higher; Dow Jones Industrial Average and Nasdaq They rose by 0.7% and 1.6%, respectively.
— CNBC’s Elsa Ohlen also contributed to this report.
