From The Economic Times · Anupam Nagar · · 1m 20s
European Shares Flat Amid Earnings and France Turmoil
European markets hold steady as investors weigh corporate earnings against French political uncertainty and Middle East tensions.
In brief
European markets hold steady as investors weigh corporate earnings against French political uncertainty and Middle East tensions. European shares remained flat after assessing corporate earnings and French political instability, with oil prices falling due to Middle East de-escalation hopes. Originally reported by The…
European markets pause
European shares were subdued in early trading on Monday as investors assessed corporate earnings amid political turmoil in France.
STOXX 600 index flat
The pan-European STOXX 600 index was flat at 636.26 points by 0809 GMT after recording its steepest weekly decline since early September.
Oil prices retreat
Oil prices retreated after climbing to near six-month highs last week as hopes of easing tensions between the United States and Iran improved investor sentiment.
Mecca Pact meetings
Senior officials from Saudi Arabia, Turkey and Pakistan, members of the Mecca Pact, were scheduled to meet Iranian leaders in Tehran on Monday.
Energy stocks decline
The decline in crude prices weighed on energy stocks, with the broader European energy sector falling 0.7%.
Travel stocks rise
Travel and leisure stocks outperformed, rising around 1% as lower oil prices eased concerns over fuel costs.
Corporate earnings focus
Portugal's Galp Energia reported a 68% increase in adjusted net profit for the third quarter, beating market expectations but shares fell 8.5%.
What it means
European shares remained flat after assessing corporate earnings and French political instability, with oil prices falling due to Middle East de-escalation hopes.
