European Stocks Swing as Investors Gauge Iran War De-Escalation

European stocks erased steep declines to trade higher in one of the biggest swings in years after US President Donald Trump said he was postponing military strikes on Iran’s energy infrastructure following “very good” talks with Tehran.

The Stoxx Europe 600 was up 0.6% by the close, off its session highs, after Iran’s semi-official Fars news agency said there had been no direct or indirect contact with Trump and that he had retreated due to Iranian threats.