European Movers: Babcock (BAB LN) +4%, BAE Systems (BA/ LN) +2.5%, Novartis (NOVN SW) +1%, Segro (SGRO LN) -1.7%, Compass (CPG LN) -2.3%, Julius Baer (BAER SW) -2.6%, Swatch (UHR SW) -3.4%, Boliden (BOL SS) -4.6%

The movements in European equities suggest a mixed session, with some companies like Babcock and BAE Systems showing gains, likely indicating positive sentiment or recent positive developments.

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EUROPEAN OPEN: UK defence names in focus after Healey appointment; NOVN SW Q2 earnings beat, guidance reaffirmed; CMA seeks comments on MKC-ULVR LN deal; VOW3 GY advances Skoda India stake talks; AIR FP remains on track for delivery target

It was Iran which proposed the 10-day ceasefire, i24's Stein reports, citing sources; US said to be demanding a longer ceasefire and demanding even partial navigation of the Strait of Hormuz

European Movers: Babcock (BAB LN) +4%, BAE Systems (BA/ LN) +2.5%, Novartis (NOVN SW) +1%, Segro (SGRO LN) -1.7%, Compass (CPG LN) -2.3%, Julius Baer (BAER SW) -2.6%, Swatch (UHR SW) -3.4%, Boliden (BOL SS) -4.6%

Japan is reportedly to relax rules surrounding bank lending for M&A and incentivise pension funds to invest more in alternative assets

Worldpanel announces grocery inflation and sales (w/e 12th July): Grocery Inflation 2.6% (prev. 3%)

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Conversely, significant declines for firms such as Swatch and Boliden may reflect sector-specific challenges or broader market concerns. This divergence could point to selective investor behavior, highlighting where confidence remains strong amidst uncertainty in other areas.

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