European stocks closed on a strong note on Friday, buoyed by news that Iran has declared the Strait of Hormuz completely open to commercial traffic on the heels of the 10-day ceasefire between Israel and Lebanon.
U.S. President Donald Trump said in a post on Truth Social that the Strait of Hormuz is "completely open and ready for business" but said the U.S. will continue its blockade of Iranian ports until a final peace agreement is reached.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.