Frankfurt’s DAX 40 extended early gains to close about 2.2% firmer at 24,949 on Wednesday, the highest level since late February, driven by energy-sensitive industrials, banks and financials. Market sentiment improved following reports that the US and Iran were getting close to a deal that would bring a resolution to the conflict. US President Trump announced earlier that he would suspend the US operation to ensure the safe passage of ships through the Strait of Hormuz. Meanwhile, traders eyed a deluge of corporate earnings from both sides of the Atlantic. MTU Aero Engines jumped over 11% and Airbus surged 6.5%. Continental climbed 8.4%, after reporting first-quarter operating profit above analysts' forecasts. BMW shares gained 5.4%, supported by quarterly financial results that exceeded market expectations across several key indicators, despite reporting a 25% decline in pre-tax profit. Infineon fell 2.1% amid profit-taking after solid results and a strong year-to-date performance.