FX.co ★ European Stocks Subdued

European stocks traded cautiously on Thursday, with both the STOXX 50 and STOXX 600 hovering around the flatline at one-month lows as investors continued to monitor the tense situation in the Middle East, where hostilities remain elevated. Sentiment was partly supported by comments from US President Trump, who said he did not expect the conflict to last “too long.” At the same time, oil prices and bond yields steadied after their sharp rise earlier in the week, offering some relief to broader market sentiment. The luxury sector was among the weakest performers, with LVMH (-2.1%), L’Oréal (-1.7%), Hermès (-2.9%) and Richemont (-2.1%) all trading lower. By contrast, SAP (+0.8%), Siemens Energy (+1.4%) and STMicroelectronics (+1.3%) advanced. Deutsche Telekom also gained (+1.2%) following reports that Elliott had built a stake in the company.