European stocks surged on Wednesday morning as hopes for a diplomatic breakthrough in the Iran conflict lifted market sentiment, after a report by Axios said Washington and Tehran were edging closer to a one-page framework agreement aimed at ending hostilities and paving the way for broader nuclear negotiations.
According to the report, provisions include a moratorium on Iranian uranium enrichment, a lifting of US sanctions, the distribution of frozen Iranian funds and the opening of the Strait of Hormuz for ships.
