US-Iran Ceasefire Sparks Market Rally

European stocks are set to open sharply higher, with the U.K.'s FTSE 100 index expected to rise 3%, after the US and Iran agreed to a conditional ceasefire deal. The move has sparked a global relief rally, with Dow futures gaining over 1,000 points and oil prices plunging below $100 a barrel. The ceasefire deal marks a significant shift in the geopolitical landscape, and its impact on markets will be closely watched. The fact that Iran has agreed to cease defensive operations and allow safe passage through the Strait of Hormuz is a crucial development, and investors will be monitoring the situation closely. A key date to watch will be the upcoming German factory orders and EU retail sales figures, which will provide insight into the economic impact of the ceasefire deal.