European shares rise as oil prices slip on fragile US-Iran ceasefire
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European shares rose 0.7% on Wednesday, recovering from a previous drop, as oil prices fell amid stalled US-Iran peace negotiations. The pan-European STOXX 600 index reached 611.06 points. Regional markets, including Spain's IBEX 35 and Germany's DAX, also saw gains. Despite concerns over Middle East supply disruptions, European corporate profits are expected to rise 10.2% in Q1. Notable stock movements included Merck, which saw an 8% increase after raising its profit forecast, and Allianz, which rose 1.6% following a 52% increase in net profit for the quarter.
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