Universal Music slumps as Bill Ackman’s Pershing Square offloads stake after failed takeovers European stocks closed higher on Thursday, recovering from morning losses, with major bourses showing positive territory despite ongoing U.S.-Iran tensions. Universal Music Group shares fell significantly after Pershing Square reportedly sold its stake, while Nokia shares also declined amid a global tech stock downturn. Oil prices dropped following news of a ceasefire agreement between Lebanon and Israel, contingent on Hezbollah’s withdrawal.

• European stocks finished higher, reversing morning losses.
• Tensions between Washington and Tehran escalated.
• A ceasefire was agreed between Israel and Lebanon.
• Universal Music Group shares dropped after Pershing Square sold its stake.
• Nokia shares declined amid a global tech stock reversal.
• Oil prices fell following the Lebanon-Israel ceasefire announcement.