Wednesday, October 2, 2024
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European stocks closed stable despite fears of escalation in the Middle East

European stocks closed stable despite fears of escalation in the Middle East

Stock movements

“Indicator stabilized”Stokes 600“At the level of 521.14 points at the close after it was almost stable during trading throughout the session.

The energy sector rose 1.6 percent to record its best performance in more than eight weeks, with oil prices rising following the Iranian missile attack on… IsraelAnd Israel threatenedUS By replying.

The hostilities also boosted the shares of defense companies, including Germany’s Rheinmetall and Britain’s BAE Systems, whose shares rose by more than 1 percent each.

Shares of the Swedish company Saab also increased 2.5 percent.

Government bond yields rose Eurozone A day after long-term bond yields recorded their biggest daily decline since mid-June.

The utilities sector was the biggest loser among the sectors included in the index, declining by 1.6 percent.

In terms of data, the unemployment rate in the euro zone during August reached 6.4 percent, which is in line with estimates of analysts polled by Reuters.

Among other major stocks, British JD Sports Fashion shares lost 6.1 percent after the American company Nike withdrew its annual forecasts.

The British company’s profits exceeded expectations in the first half of the year.

Volvo Cars, based in Sweden, said its sales rose 1 percent year-on-year in September to 62,458 cars, but its stock fell 6.6 percent.



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