# The pan-European STOXX 600 index was up 3.6pc at 611.73 points.

*business · news · 2026-04-08 · Independent.ie*

## Key points

- A two-week US-Iran ceasefire triggered a sharp global market rally and oil price drop.
- Brent crude futures fell 15% to below $100 a barrel after the ceasefire announcement.
- Dubai's stock index surged 8.5%, its biggest intraday gain since December 2014.
- Ryanair's stock jumped 9.33%, leading rebounds among shares previously hit by the Iran conflict.
- President Trump agreed to the ceasefire hours before a deadline for Iran to reopen the Strait of Hormuz.

**Companies:** Ryanair, Bank of Ireland, AIB, Cairn, Glenveagh
**Countries:** Iran, United States, Germany, United Kingdom, United Arab Emirates, Japan

[Read the full story on Independent.ie](https://www.independent.ie/business/irish/ryanair-leads-irish-shares-surge-oil-prices-drop-after-iran-ceasefire-deal/a365346572.html)

---

Canonical: https://newsio.io/n/897f7c71-699c-4cc4-8c2b-1b870d3c61b9/the-pan-european-stoxx-600-index-was-up-3-6pc-at-611-73-points
Summarized by Newsio from Independent.ie. https://newsio.io/how-it-works