European stocks stage biggest rally in a year on ceasefire deal

In Dublin, the ISEQ All Share index rose more than 6%

European stock markets rallied strongly when trading began on Wednesday.  Picture: Benjamin Girette/Bloomberg

Global stocks soared the most in a year as oil prices plummeted in the wake of the US and Iran agreeing to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz.

The Stoxx Europe 600 index was up 4.3%, the biggest intraday gain since April 2025.