European Stocks Rise On Oil Decline, Middle East Peace Hopes

European shares finished higher on Friday, supported by a drop in oil prices, easing bond yields, and renewed hopes of progress toward ending the Middle East conflict and reopening the Strait of Hormuz. Brent front-month crude dipped to a low of $103.11 before recovering slightly, still more than 2% below the prior close. Sentiment also benefited from reports that Iran has submitted a proposal to U.S. officials through mediators to end the war. The pan-European Stoxx 600 rose 0.35%. The UK’s FTSE 100 gained 0.14% and Germany’s DAX climbed 0.58%. Miners and banks led, while several energy names fell.