European stocks broadly flat to higher at September kick-off
European stocks were broadly flat to higher Tuesday as investors weighed oil strength and US-Iran tensions. Energy led with TotalEnergies up 2.1% and Eni up 1.6%; chemicals and tech also rose.
European stocks were broadly flat to higher on Tuesday as investors kicked off September by looking past another rise in oil prices amid escalating tensions between the US and Iran.
The increase in energy prices is adding to inflationary pressures and strengthening expectations that the ECB will raise interest rates further.
On the data front, Eurozone flash inflation figures due later in the session are expected to reinforce expectations for further monetary-policy tightening.
At the sector level, chemicals was among the best performers.
Air Liquide shares gained around 3.8% after reports that activist investor Elliott Management had built a stake in the company.
Technology stocks also advanced, with ASML rising 1.5% and Infineon Technologies gaining 2.5%.
Energy stocks were another source of strength as higher oil prices supported the sector, with TotalEnergies up 2.1% and Eni gaining 1.6%.