Tentative Rebound In European Markets, Natural Gas Prices Plunge 11%

Bridgette Randall
24 Jun, 2025
London

European markets advanced amid hopes that Middle East tensions will ease in the days ahead after Israel and Iran halted missile strikes. 

Benchmark indexes in Frankfurt, Paris, Milan, and London jumped more than 1%, and crude oil prices dropped to a two-week low after the temporary ceasefire between Iran and Israel. 

Investors returned to bid up stocks amid hopes that the 12-day war between Israel and Iran may end temporarily, easing worries about global crude oil supply disruptions. 

Despite the military superiority of Israel and its partner, the U.S., Iran appears to have struck deadly blows in at least three cities in Israel, resulting in at least 450 deaths. 

Over the weekend, the U.S. military struck Iran's nuclear infrastructure in three cities, but the full extent of damage is still not known. 

On the economic front, private business activities expanded for the sixth month in a row in June, confirming the muted pace of growth. 

The HCOB Eurozone Composite PMI remained unchanged from the previous month at 50.2 in June, according to a preliminary estimate released by S&P Global.

 

Europe Indexes and Yields

The DAX index increased by 1.9% to 23,714.60, the CAC-40 index edged higher 1.6% to 7,656.74, and the FTSE 100 index advanced 0.4% to 8,793.58.

The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.24%, UK gilts moved up to 4.51%, and Italian bonds edged lower to 3.50%.

The euro increased to $1.16; the British pound was higher at $1.36; and the U.S. dollar was lower and traded at 81.17 Swiss cents.

Brent crude decreased $1.26 to $68.90 a barrel, and the Dutch TTF natural gas plunged more than 11%, or €4.98, to €35.65 per MWh.

 

Europe Movers

BP plc declined 4.9% to 367.40 pence, Shell PLC fell 3.5% to 2,590.50 pence, TotalEnergies dropped 3.7% to €52.28, and Repsol SA decreased 3% to €12.45. 

Fashion and luxury stocks advanced, driven by the broader gains in markets across Europe. 

LVMH rose 1.8% to €457.85, Kering SA advanced 2.2% to €179.36, Hermes International edged higher 1.2% to €2,292.0, and Moncler SpA advanced 1.4% to €48.73.