European Shares Subdued Amid Middle East Tensions

(Reuters) – European shares were subdued on Friday as investors assessed the possibility of a wider regional conflict in the Middle East. However, strong performances in energy stocks helped maintain the benchmark index’s stability.

The pan-European STOXX 600 remained steady at 516.40 points as of 0709 GMT, though it is on track for its worst week since September 2, depending on whether losses persist.

Oil stocks saw a gain of 0.7%, positioning them for their best week in nearly six months. The sub-index has risen by 4.1% this week, distinguishing itself as the only sector to record gains.

Concerns arose regarding potential disruptions to oil supply, as the U.S. deliberates on supporting Israeli strikes against Iran’s oil facilities in response to a missile attack on Israel.

Several members of the ECB, including Luis de Guindos, Claudia Buch, and Frank Elderson, are scheduled to speak at various events throughout the day.

Real estate stocks, sensitive to interest rates, also contributed to keeping the index from turning negative, with a 0.6% increase.

In individual stock news, Denmark’s DSV surged by 6.6% after the Danish transport firm raised $5.5 billion in a share issue aimed at partially financing its acquisition of Schenker.