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(Sharecast News) - European shares were up at the open on Wednesday after US President Donald Trump extended the ceasefire deadline with Iran in an effort to get peace talks going again.
The pan-regional Stoxx 600 index was up 0.31% to 617.96 at 0803 BST. Germany's DAX gained by 0.30%, France's CAC 40 rose 0.20% and Italy's MIB increased 0.28%.
Britain's FTSE fell 0.11% after inflation accelerated to 3.3% in March from 3% the month before, driven by higher fuel prices due to the Iran war.
Trump overnight announced an extension to the two-week ceasefire only hours after he had threatened more bombing of Iran if officials did not return to the negotiating table.
"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," he wrote on social media.
"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."
Oil prices, which had tipped beyond $100 a barrel on Tuesday, slipped below that level, with Brent crude down 0.8% to $97/69 a barrel.
"While the ceasefire has been extended, note that the US is still blockading the Strait of Hormuz and no peace talks are currently scheduled after Vice President JD Vance pulled out of meeting Iranian officials in Pakistan this week," said XTB research director Kathleen Brooks.
"This is not your average ceasefire, and it is hard to see any resolution to this conflict at this stage. What is more surprising is the market's mild reaction to events."
In equity news, Dutch chipmaking equipment manufacturer ASM International topped the Stoxx on the back of better than expected first-quarter earnings after the close of trade on Tuesday.
FDJ United fell after the lottery operator cut its 2026 outlook late on Tuesday following a fall in first quarter revenues.
Eurofins Scientific also slumped after the French lab testing group released results on Wednesday.
Reporting by Frank Prenesti for Sharecast.com