BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks advanced on Friday, the dollar headed for a small weekly loss on improved risk sentiment in markets, and oil prices slipped to a one-month low after reports emerged the United States and Iran have agreed in principle to extend their ceasefire by 60 days.
According to the tentative agreement, pending final approval from U.S. President Donald Trump, Iran would not be able to impose tolls on ships transiting the Strait of Hormuz, while the U.S. would gradually lift its sea blockade on Iranian ports.
The pan-European STOXX 600 was up half a percent at 628.06 after falling half a percent on Thursday.
The German DAX edged up by 0.3 percent, France's CAC 40 surged 0.9 percent and the U.K.'s FTSE 100 was up 0.2 percent.
Pernod Ricard shares were little changed. An Indian court has rejected a plea by the French spirits makers seeking permission to sell its products in New Delhi.
Automaker Renault rallied nearly 2 percent after the Science Based Targets Initiative approved its new near-and-long-term emissions goals, thus updating the targets first set in 2019.
German ticketing and live entertainment company CTS Eventim soared 9 percent after revenue grew by 23 percent in the first quarter.
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