Live Markets: Looking on the bright side

Vallourec SA

19/05/2026 09:06

Adds new blog entry

STOXX 600 up 0.9%

Defence, travel & leisure lead

Trump says postponed Iran attack after new peace proposal

Wall St futures steady

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LOOKING ON THE BRIGHT SIDE

European equities are rising on Tuesday after U.S. President Trump said he'd paused a planned resumption of attacks on Iran after Tehran sent a new peace proposal to Washington.

The terms of the proposal, as described in Iranian reports, appeared little changed from their previous offer, which U.S. President Donald Trump rejected last week as "garbage".

Still, markets appear optimistic that an agreement to end the war could be close, potentially allowing for the reopening of the Strait of Hormuz.

The pan-continental STOXX 600 .STOXX was last up 0.9%, adding to Monday's 0.5% rise. The index has been trading in a relatively narrow range for weeks.

Breadth is positive, with advancing stocks outnumbering falling shares by about five to one.

Defence .SXPARO and travel & leisure .SXTP stocks lead, two sectors that have been hit hard during any escalation of the conflict.

Miners .SXPP lag as copper HGc1 and precious metals XAU=, XAG= decline.

Shares in Vallourec VLLP.PA are bottom of the STOXX 600 after ArcelorMittal  MT.LU sold a 10% stake in the company at a near 8% discount.

Here's your opening snapshot:

(Samuel Indyk)

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EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: WATCHING THE NEGOTIATIONS CLICK HERE

MARKETS IN UNEASY CALM AS INFLATION FEARS TAKE ROOT CLICK HERE

Chips ahoy https://www.reuters.com/graphics/USA-STOCKS/WEEKAHEAD/zdpxgeewmvx/chart.png

G7 bond yields https://www.reuters.com/graphics/AUTOMATED-20260518/G7-BOND-YIELDS-SINCE-2008/dwpkybegmpm/chart.png

European optimism https://www.reuters.com/graphics/GLOBAL-STOCKS/zgpolxnmqvd/chart.png