BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European shares inched higher on Tuesday as falling oil prices helped ease worries about inflation and the outlook for interest rates.
Brent crude futures held near $82 a barrel after reports suggested that U.S. President Trump may release a preliminary deal to end the war with Iran before Friday.
The specific terms of the deal remain unclear, but Trump said the Strait of Hormuz could reopen as soon as Friday.
Upcoming rate decisions from the U.S. Federal Reserve and the Bank of England were also on investors' radar.
The pan-European STOXX 600 rose half a percent to 637.89 after closing 0.2 percent higher in the previous session.
The German DAX and France's CAC 40 both surged around 0.7 percent, while the U.K.'s FTSE 100 was up 0.6 percent.
UniCredit rallied 3.6 percent as Germany rejected the Italian lender's takeover bid for Commerzbank. Shares of the latter were up nearly 1 percent.
Swedish defense and aerospace firm Saab gained more than 3 percent after securing an order for anti-tank weapons system from France's arms procurement authority.
Meat and seafood processor Hilton Food dropped 1.5 percent in London after confirming Mark Allen as group chief executive from 1 July.
STMicroelectronics fell 2.6 percent after the chipmaker announced plans to offer $1.5 billion of convertible bonds and redeem early $750 million of outstanding convertible bonds due 2027.
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