European equities trade flat as investors watch Iran sanctions
European stocks recovered from early losses to trade near the flat line Monday, with the STOXX 50 and STOXX 600 both unchanged at 6,460 and 654, respectively, as markets await details on Iran sanctions and Jackson Hole remarks.
European equities recovered from early losses to trade near the flat line Monday, with the STOXX 50 and broader STOXX 600 both unchanged at 6,460 and 654, respectively.
Investors are awaiting US Treasury Secretary Scott Bessent’s press conference later today for details on Iran sanctions, while Fed Chair Kevin Warsh’s remarks at Jackson Hole on Friday could offer clues on the interest-rate outlook.
European stocks ended lower last week as rising oil prices, higher bond yields and escalating Middle East tensions fueled inflation concerns and increased expectations for a more hawkish path from the ECB.
Basic Resources led gains as gold prices rose on a weaker dollar, while Travel & Leisure also advanced.
Energy shares slipped as the recent crude rally paused.
The tech sector remained under pressure ahead of Nvidia’s earnings on Wednesday.
In corporate news, Shell edged down 0.1% after the Financial Times reported that potential bidders have expressed interest in its US chemical assets.