European Shares Rally on Iran-US Pause Optimism Despite Unresolved Hormuz

📉 MARKETS — Europe prices a deal that hasn't been struck yet. 📌 LOOK CLOSER: Risk-on across European bourses prices a ceasefire that doesn't exist. Hormuz mines remain, Tehran rebuilds struck sites, and a drone hit near a US base hours ago. Energy indices gain as Brent drops — that correlation inverts fast if Thursday resumes strikes. European insurers and shippers absorbed weeks of war premium; one session reverses it.