Stoxx 600 dips as Middle East tensions lift oil; Inditex rises
STOXX 600 fell 0.1% to 624.32 after the US reported it thwarted Iranian missile attacks, lifting Brent about 2%. Inditex rose nearly 5% after a strong summer trading update.
The pan-European STOXX 600 slipped 0.1% to 624.32 on Wednesday by 0805 GMT after the US military reported it had ‘thwarted Iranian missile attacks’ aimed at locations including Bahrain and Kuwait.
The report pushed Brent crude roughly 2% higher. Rising oil prices weighed on energy-sensitive stocks with airline shares under pressure; Lufthansa and Air France each fell about 1%. The automotive sector index declined about 1.2%.
Retail stocks outperformed after Inditex reported a strong start to summer trading. Inditex shares jumped nearly 5% and the broader European retail index rose about 2%, helping limit losses across the STOXX 600.
Market participants remained cautious as they monitored developments in the Middle East and their potential impact on energy markets and company operating costs. President Donald Trump noted talks with Iran were ‘continuing’, a comment that helped contain larger market moves.
Investors are watching for further updates on the situation and any signals from US-Iran discussions that could affect oil supplies and risk sentiment in European equity markets.
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