Elsewhere in Europe, a similar trend was observed: the DAX 40 in Frankfurt gained 1.79%, the FTSE 100 in London appreciated by 0.65%, and the pan-European Euro Stoxx 50 advanced by 1.74%.

In addition to a technical rebound, according to the New York Times, Iran reportedly made a secret (though not so secret, in the end) approach to discuss terms for ending the conflict. However, these reports should be taken with caution, especially since, for now, Uncle Sam does not seem open to negotiations and would likely prefer to press its advantage a bit further.

In the United States, as of around 5:30 p.m., the overall trend was positive, with the S&P 500 up 0.64% and the Nasdaq Composite gaining 1.12%, while the Dow Jones slipped 0.35%.

Bargain Hunting and Profit Taking

At the stock level, those that had been most neglected since the start of American and Israeli strikes against Iran were, logically, sought after in a wave of bargain hunting. Cyclicals—especially automakers, which had suffered heavy losses due to concerns over supply chain disruptions from the closure of the Strait of Hormuz—were mostly in demand. Stellantis, for example, gained 4.91%.

The tourism sector, which had also seen significant outflows, regained some altitude. Accor stood out with a gain of 4.31%, supported by a positive outlook from Citigroup, which maintained its buy rating and raised its price target from 52 to 58 euros. Air France-KLM was also in favor, rebounding 1.61% after plunging 16.59% over two sessions.

Conversely, stocks that had managed to stand out—though they were few—fell victim to logical profit taking. TotalEnergies, for example, lost 1.82%.

Some Corporate Results to Digest

Dassault Aviation stood out, soaring 4.83%. The aerospace group reported strong annual results and 2026 prospects that were well received.

Across the rest of the Old Continent, corporate earnings also took center stage. In Amsterdam, ASM International, a manufacturer of equipment for semiconductor production, posted robust annual numbers, with its stock closing up 5.04%, dragging Germany's Infineon along with it (+5.36%).

By contrast, the session was more complicated for Adidas (-3.60%). The sportswear company reported disappointing outlooks, which were punished by the market, sending its stock back to three-year lows.

Still in Germany, Bayer stumbled 2.08% after releasing results marked, as expected, by a heavy net loss in the fourth quarter due to litigation-related charges.

Rest of the News Just as Dense

Beyond the armed conflict between the United States, Israel, and Iran, Washington continues to manage day-to-day affairs. The issue of tariffs resurfaced with a statement from Scott Bessent. Speaking on CNBC, the U.S. Treasury Secretary indicated that a global tariff rate of 15% would likely come into effect this week.

On the macroeconomic front, the agenda was particularly busy. Across the Atlantic, it's worth noting that according to the ADP survey on private sector employment, the U.S. economy created 63,000 jobs in February, compared to 50,000 expected and 11,000 in January, a figure revised down from 22,000. The 63,000 jobs added is the highest number recorded since July 2025, when 104,000 were logged.

Also in the U.S., the ISM Non-Manufacturing PMI rose in February, contrary to expectations of a decline. It climbed from 53.8 to 56.1 points, while analysts had forecast a drop to 53.5 points. At 56.1, it returns to a level not seen since July 2022. In detail, this is the 20th consecutive month that this indicator has been in its expansion zone.

In Europe, and more specifically in France, activity in the services sector remained unchanged in February at 49.6 points, as expected. At this level (below 50), the indicator signals contraction. As for the Composite PMI for overall private sector activity, it remained, as anticipated, in contraction at 49.9 points, but slightly improved from January's 49.1.

According to Jonas Feldhusen, junior economist at Hamburg Commercial Bank: "The French private sector once again lacked dynamism in February. Although the composite index edged up slightly, its level remains weak, and a comparison with Germany—where the first signs of economic recovery are already evident (as indicated by the country's previously published flash PMI)—only reinforces this observation."

In Germany, activity in the services sector outperformed expectations in February. The S&P Global PMI measuring it rose from 53.4 to 53.5 points, indicating a slight acceleration, whereas analysts were expecting stability. The S&P Global Composite PMI, which synthesizes activity in both manufacturing and services, followed the same path. It settled at 53.2 points, while it was expected to remain unchanged at 53.1 points. In both cases, these statistics are at their highest level in four months.

On the currency market, the euro is rising against the greenback (+0.22%) and is trading at 1.1636 dollars.

Oil prices are retreating after their recent surge. Brent crude from the North Sea is down 0.76%, at 81.31 dollars per barrel.