European Markets Rally as Travel Stocks Surge, Oci Shares Soar
European markets closed higher, with the pan-European Stoxx 600 up 0.43%. Travel and leisure stocks led gains, while oil and gas remained flat. U.S. stocks opened slightly higher, with the S&P 500 rising. In Asia, Japan's Nikkei 225 index jumped 1% after the Bank of Japan left its main policy rate unchanged. Dutch chemical and fertilizer manufacturer OCI saw its shares rise 5% after announcing the sale of its stake in Iowa Fertilizer Company. Shipping companies, including Frontline, saw losses as investors assessed the impact of a suspension of Red Sea routes.