European stock markets opened higher on Thursday, buoyed by reports that Iran and Oman have agreed on a new transit route for ships in the Strait of Hormuz.
The development marks a potential de-escalation in the shipping tensions that have weighed on global trade and energy markets for weeks.
Investors appear to be pricing in a reduced risk of disruption to oil flows, which had previously sparked volatility across commodities and equities.
The positive sentiment in Europe contrasted with weakness in Asian tech stocks, which had dragged on global indices earlier in the session.
Instead, European markets were supported by solid macroeconomic indicators and corporate earnings results that provided a floor for equity valuations.
The shift suggests traders are rotating away from pure growth tech plays toward broader market exposure as geopolitical risks recede.