European Stocks Reverse Gains
European stocks reversed early gains, with the STOXX 50 and STOXX 600 both falling 0.2%, as oil prices swung as traders assess Saudi Arabia’s move to restart a key pipeline while awaiting further diplomatic efforts between the US and Iran to end the conflict in the Middle East. Meanwhile, flash PMI data showed stronger-than-expected services activity across the Euro Area, Germany and France. AstraZeneca fell 1.1% despite securing European approval for its Trixeo inhaler as a maintenance treatment for asthma. Allianz dropped 2.1%, Anheuser-Busch InBev lost 1% and Siemens Energy fell 1%, while SAP gained 1.3%.
2%, as oil prices swung as traders assess Saudi Arabia’s move to restart a key pipeline while awaiting further diplomatic efforts between the US and Iran to end the conflict in the Middle East. Meanwhile, flash PMI data showed stronger-than-expected services activity across the Euro Area, Germany and France. 1% despite securing European approval for its Trixeo inhaler as a maintenance treatment for asthma. 3%.