European Shares Edge Higher As Trump Extends Threat Ahead Of Deadline

(RTTNews) - European stocks traded higher on Tuesday amid hopes of de-escalation in the Middle East conflict.

Investors grew hopeful about a possible end to the Iran war as the 8 p.m. EDT Tuesday deadline set by U.S. President Donald Trump approaches.

Trump broadened his warning against Iran to include potential strikes on infrastructure such as power plants and bridges, if Tehran fails to reach a deal and the Strait of Hormuz, a crucial global energy route, is not reopened.

The euro ticked higher against the dollar after private-sector activity growth across the eurozone in March was revised slightly higher.

According to final estimates from S&P Global, the eurozone composite purchasing managers' index was revised to 50.7 from the preliminary reading of 50.5 released two weeks ago.

Meanwhile, the U.K. PMI composite output index stood at 50.3 in March, down from February's 53.7.

The pan-European STOXX Europe 600 was up 0.6 percent at 600.11 as trading resumed after a long holiday weekend for Good Friday and Easter.

The German DAX surged 0.7 percent, France's CAC 40 rallied 1.2 percent and the U.K.'s FTSE 100 was up 0.3 percent.

Banks Commerzbank, Deutsche Bank, BNP Paribas, Credit Agricole and Societe Generale were up 1-2 percent.

Dutch lender ING rose 1.2 percent after ending an agreement to its Russian business. Universal Music Group shares soared 13 percent after Bill Ackman's Pershing Square Capital offered to buy the world's largest music company in a deal valued at about 55.75 billion ?euros ($64.31 billion).

Sanofi gained about 1 percent. The French drugmaker said that lunsekimig cleared the primary and key secondary goals in two Phase II studies evaluating the investigational bispecific pentavalent nanobody.

Hunting Plc, a precision engineering group, advanced 1.3 percent after winning almost $68 million of orders for a new offshore development in Guyana.

ASML Holding tumbled 2.8 percent after American lawmakers introduced a legislation that would restrict the sale of advanced semiconductor manufacturing equipment to China.