{"id":126756,"date":"2026-05-06T11:46:13","date_gmt":"2026-05-06T07:46:13","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126756"},"modified":"2026-05-06T11:46:18","modified_gmt":"2026-05-06T07:46:18","slug":"european-stocks-soar-on-trumps-iran-pivot-novo-nordisk-and-diageo-lead-charge-as-peace-deal-nears","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/european-stocks-soar-on-trumps-iran-pivot-novo-nordisk-and-diageo-lead-charge-as-peace-deal-nears\/05\/06\/market-updates\/","title":{"rendered":"European Stocks Soar on Trump&#8217;s Iran Pivot: Novo Nordisk and Diageo Lead Charge as Peace Deal Nears"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Broad-based rally:<\/strong> The Stoxx 600 jumped 1.2%, with Germany&#8217;s DAX, France&#8217;s CAC 40 each adding 1.2%, while the U.K.&#8217;s FTSE 100 led with a 1.3% gain.<\/li>\n\n\n\n<li><strong>Trump&#8217;s diplomatic U-turn:<\/strong> The president halted &#8220;Project Freedom&#8221; \u2014 the operation to reopen Hormuz by force \u2014 citing &#8220;great progress&#8221; toward a ceasefire.<\/li>\n\n\n\n<li><strong>Pakistan&#8217;s mediating hand:<\/strong> Trump indicated the pause came partially at the request of Pakistan, a frequent broker between Washington and Tehran.<\/li>\n\n\n\n<li><strong>China&#8217;s influence:<\/strong> The pivot follows talks between Iranian and Chinese foreign ministers, with Beijing reportedly pushing Tehran to ease tensions ahead of next week&#8217;s Xi-Trump meeting.<\/li>\n\n\n\n<li><strong>Project Freedom backfire:<\/strong> The operation triggered fresh Iranian attacks, including strikes on sites in the United Arab Emirates.<\/li>\n\n\n\n<li><strong>Oil tumbles:<\/strong> Brent crude slid 1.5% to $108.22 per barrel, though still well above pre-war levels.<\/li>\n\n\n\n<li><strong>Hormuz still shuttered:<\/strong> The waterway carrying a fifth of global oil remains closed to tanker traffic, with blockades from both sides intact.<\/li>\n\n\n\n<li><strong>Novo Nordisk soars:<\/strong> Shares jumped after the Wegovy maker beat revenue and operating profit expectations, easing concerns about Eli Lilly competition.<\/li>\n\n\n\n<li><strong>Diageo cheers:<\/strong> The drinks giant rallied as buyers stocked up ahead of the World Cup tournament.<\/li>\n\n\n\n<li><strong>BMW gains, Equinor dips:<\/strong> Mixed corporate results moved automaker BMW higher while energy name Equinor declined.<\/li>\n<\/ul>\n\n\n\n<p>European stocks opened higher on Wednesday, with investors trained on President Donald Trump&#8217;s surprise about-face on the operation to reopen the Strait of Hormuz, alongside growing hopes that a peace deal between the United States and Iran was finally within reach.<\/p>\n\n\n\n<p>By 03:08 ET (07:08 GMT), the pan-European Stoxx 600 had risen 1.2%, Germany&#8217;s DAX had gained 1.2%, France&#8217;s CAC 40 had moved up 1.2%, and the U.K.&#8217;s FTSE 100 had climbed 1.3%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Trump&#8217;s Hormuz About-Face<\/h2>\n\n\n\n<p>On Tuesday, Trump announced that so-called &#8220;Project Freedom&#8221; \u2014 a U.S. push to unblock the Strait of Hormuz by using military force to guide ships through the narrow waterway \u2014 was being halted &#8220;for a short period of time.&#8221;<\/p>\n\n\n\n<p>The initiative, which came into effect earlier this week, was soon followed by a fresh wave of attacks in the strait and the broader Gulf region, including strikes on sites in the United Arab Emirates.<\/p>\n\n\n\n<p>In a social media post, Trump claimed that the change had partially come at the request of Pakistan, a frequent mediator between Washington and Tehran. He added that &#8220;great progress&#8221; had been made toward a ceasefire agreement.<\/p>\n\n\n\n<p>Notably, Trump&#8217;s decision follows talks between the foreign ministers of Iran and China. Beijing is a key buyer of Iranian oil, and media reports have suggested that China could be working to persuade Tehran not to escalate tensions with the U.S. ahead of a meeting between Chinese leader Xi Jinping and Trump next week.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Oil Eases as Peace Hopes Build<\/h2>\n\n\n\n<p>Oil prices retreated in the wake of Trump&#8217;s announcement, with Brent crude futures \u2014 the global oil benchmark \u2014 sliding 1.5% to $108.22 a barrel. Still, the Brent contract remains well above pre-war levels.<\/p>\n\n\n\n<p>The Strait of Hormuz, a major conduit for a fifth of the world&#8217;s oil, remains effectively closed off to tanker traffic, as it has been for weeks. Both the United States and Iran have erected blockades around the strategic chokepoint.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Corporate Standouts<\/h2>\n\n\n\n<p>In individual stocks, shares of Novo Nordisk jumped after the maker of the popular Wegovy weight-loss drug posted better-than-anticipated revenue and adjusted operating profit \u2014 bolstering a company that has been wrestling with intense competition from rivals like Eli Lilly.<\/p>\n\n\n\n<p>Diageo&#8217;s stock price climbed as well, fueled by buyers racing to stock up on its alcoholic beverages ahead of the soccer World Cup tournament later this year.<\/p>\n\n\n\n<p>Car manufacturer BMW in Germany also gained ground, while Norwegian energy name Equinor dipped, following their respective quarterly results.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Broad-based rally: The Stoxx 600 jumped 1.2%, with Germany&#8217;s DAX, France&#8217;s CAC 40 each adding 1.2%, while the U.K.&#8217;s FTSE 100 led with a 1.3% gain. Trump&#8217;s diplomatic U-turn: The president halted &#8220;Project Freedom&#8221; \u2014 the operation to reopen Hormuz by force \u2014 citing &#8220;great progress&#8221; toward a ceasefire. Pakistan&#8217;s mediating hand: Trump &hellip;<\/p>\n","protected":false},"author":9,"featured_media":98251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[],"class_list":["post-126756","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126756"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126756\/revisions"}],"predecessor-version":[{"id":126757,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126756\/revisions\/126757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98251"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}