European Stocks Rise Slightly, Markets Await US-Iran Breakthrough
European stocks edged higher on Friday (April 10), with the STOXX 50 and STOXX 600 both rising 0.1%, buoyed by cautious optimism that the conflict is nearing a de-escalation. Sentiment improved ahead of a meeting between US and Iranian delegations in Pakistan on Saturday, raising hopes of a diplomatic breakthrough.
US President Donald Trump said he was optimistic a deal could be reached, while continuing to press Tehran to reopen the Strait of Hormuz. Meanwhile, Israeli Prime Minister Benjamin Netanyahu agreed to talks with Lebanon, although the market viewed the path to stability as a bumpy one.
In energy markets, Hormuz remained largely closed, keeping oil prices high near $100 per barrel and curbing the rally in risk assets. This kept investors selective, weighing the potential for de-escalation against the lingering risk of supply disruptions.
Sectorally, technology and consumer cyclicals led gains, while utilities and healthcare lagged. At the stock level, ASML (+0.8%), LVMH (+0.5%), SAP (+0.3%), and Hermes (+0.9%) rose, while Shell (-0.5%) and TotalEnergies (-0.9%) weakened. On a weekly basis, the STOXX 50 recorded a 3.5% increase, while the STOXX 600 gained 2.7%. (asd)
Source: Newsmaker.id
