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2026.04.2208:44:37UTC+00European Stocks Cut Gains

The STOXX 50 and STOXX 600 trimmed early gains to trade near the flatline on Wednesday, as initial optimism over the ceasefire extension faded amid persistent uncertainty in the Middle East. U.S. President Trump announced an indefinite extension of the ceasefire with Iran just before its scheduled expiration, aiming to allow more time for peace talks. He also signaled that no new military strikes were planned, though the blockade of the Strait of Hormuz would remain in place.

Nonetheless, uncertainty lingers over the timing and scope of any formal negotiations, and reports indicated that Iran had fired on ships in the Strait of Hormuz.

In corporate news, earnings season remained in focus. Shares of ABB advanced more than 3% after the company beat expectations and raised its guidance. By contrast, Moncler slipped 0.9% as its results failed to impress investors. Deutsche Telekom dropped 3.8% following a Bloomberg report that the company is weighing a full combination with T-Mobile US, a move that could result in one of the largest M&A deals on record.

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