European Stocks Flat, Oil Prices and New Tariffs in Focus
European stock markets moved relatively stable on Friday (July 24th), but remained on track for a weekly decline. The STOXX 600 index was flat at 639.36 at 07:05 GMT.
Market movements were influenced by concerns about rising oil prices due to tensions in the Middle East. Investors were also monitoring corporate earnings reports, which again influenced trading.
Germany's DAX index strengthened after SAP shares jumped 4.5%. The increase occurred after the software company reported second-quarter cloud service order growth that exceeded analysts' estimates.
The technology sector as a whole moved slightly after previously falling more than 2%. Pressure arose from recent reports from several chip manufacturers that were deemed less than satisfactory by the market.
Meanwhile, energy sector stocks fell 0.6%, weighed down by Neste's weakness after the company's second-quarter core earnings came in slightly below expectations. Brent oil prices remained above US$100 per barrel as Houthi attacks on Saudi tankers raised concerns about supply disruptions.
Market sentiment is also clouded by the United States' new tariff policies of 10% and 12.5% on goods from 60 trading partners. As long as oil prices remain high and trade uncertainty persists, European stock markets are likely to remain limited and cautious. (asd)
Source: Newsmaker.id
