FX.co ★ European Stocks Cautious

European equities opened the week on a subdued footing, with both the STOXX 50 and STOXX 600 trading broadly unchanged. Sentiment was restrained as geopolitical tensions with Iran persisted, and US President Trump floated the prospect of seizing Iranian oil assets, including the strategically important export terminal at Kharg Island. Against this backdrop, oil prices extended their rally, climbing to their highest levels since 2022. Sector moves were mixed: industrials underperformed, while utilities and energy outpaced the broader market. At the single-stock level, HSBC (-1%), Hermès (-0.7%), Siemens (-0.5%), and Schneider Electric (-0.8%) traded lower, whereas energy heavyweights Shell (+1%) and TotalEnergies (+1.1%) advanced.