European aerospace stocks rise after Iran ceasefire agreement

Shares in European aerospace companies are seen up after the U.S. and Iran announced a ceasefire in the conflict that has severely disrupted air travel in the Middle East

U.S. President Donald Trump agreed to a two-week ceasefire with Iran on Tuesday, signalling a pause in hostilities that have been ongoing since February 28, closing airspaces, grounding flights and causing a surge in jet fuel costs

A German trader says aviation and tourism stocks are rallying on early signs of easing in the Iran war, with Lufthansa LHAG.DE boosted by the prospect of reopened air routes and lower oil prices

German travel operator TUI TUI1n.DE is up 9.2%, Lufthansa rises 8.4% and airport operator Fraport FRAG.DE jumps 5.3% in early Frankfurt trade

Frankfurt-listed shares of Airbus AIR.PA and MTU Aero MTXGn.DE are up more than 7%