European Markets Rally After Iran Opens Hormuz

European equities surged, with Stoxx 600 up 1.5%, DAX +2.3%, CAC 40 +2%, FTSE 100 +0.7% after Iran reopened the Strait of Hormuz.
Brent crude fell 10.5% to $88.96 per barrel, causing energy stocks like Eni to tumble (ENI down 4.06% and halted trading).
Luxury stocks such as LVMH, Burberry and Kering rallied, reflecting relief from earlier fuel‑cost pressures on travel and leisure.
Euro strengthened to $1.1834 versus the dollar and European government bond yields eased amid easing geopolitical risk.