LIVE MARKETS-Banks, miners, autos and travel boosted by MidEast headlines

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BANKS, MINERS, AUTOS AND TRAVEL BOOSTED BY MIDEAST HEADLINES

European banks, miners, autos and travel stocks got a boost while energy names fell this morning after a report from Axios stated the U.S. and Iran are closing in on one-page memo to end the war.

The STOXX 600 .STOXX had already been off to a strong start on Wednesday on optimism around Middle East developments - trading up 1.5% at the open, with gains turbocharged to over 2% after the headlines.

Biggest winners include the basic resources basket .SXPP - up 4.7% and at a 10-week high. Autos .SXAP are up 4.6% and travel stocks are up .SXTP 4.3%, while aersopace and defence names .SXPARO are adding 4.1% and banks 3.8%.

The energy basket is down 2.6% - the worst off today - though it remains 33.8% higher on the year. .SXEP

(Lucy Raitano)

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