To The Moon

European stock markets advanced, ending a three-day losing streak, as energy prices fell sharply following U.S. President Trump's suggestion that the conflict with Iran could conclude soon. The Stoxx Europe 600 index closed 1.9% higher. Most sectors rebounded after Monday's sell-off, with mining stocks leading the gains. Banking and technology shares also outperformed the broader market, while the food and beverage sector was the weakest performer. Among mining stocks, Fresnillo led the rise, posting its largest gain since November. In other individual movers, Prosus NV surged as much as 10%, tracking gains in Tencent. The Chinese company recently launched new AI tools designed to automate workflows. Prosus is Tencent's largest shareholder. Market sentiment improved after President Trump indicated that military actions against Iran were progressing faster than anticipated. Although he did not expect the conflict to end this week, he suggested it could be resolved "soon." He also mentioned that the U.S. might exempt some oil-related sanctions and provide naval escorts for oil tankers passing through the Strait of Hormuz, which has been effectively closed due to the conflict. Trump's remarks triggered a sharp pullback in energy prices, which had earlier climbed to multi-year highs. Brent crude fell 13% to $86 per barrel on Tuesday after nearing $120 on Monday. European natural gas futures dropped as much as 18%. "The extreme volatility in oil prices has taken us by surprise," said Laurent Lamagnere, Deputy CEO of Alphavalue in Paris. Despite Tuesday's moderation, "we believe oil prices will remain elevated," he added. "Trump saying the war may end does not mean it actually will."