FX.co ★ European Stocks Attempt to Rebound

On Friday, the STOXX 50 rose by 0.6% while the STOXX 600 saw an increment of 0.3%, attempting to recover from a three-day losing streak that had brought them to their lowest points in almost two months. Investors are keeping a close eye on developments in the Middle East amidst news that President Trump, as indicated by a White House official, will make a decision within two weeks regarding potential military action against Iran. These remarks provided a brief respite regarding the possible US involvement in the conflict. Meanwhile, European and Iranian officials are scheduled to convene in Geneva for their first high-level discussion since the commencement of the conflict. The travel and leisure sectors experienced notable gains, in contrast to a decline in energy stocks. On the corporate front, Kering surged by 2.8%, Unicredit by 1.8%, Societe Generale by 1.6%, and STMicroelectronics by 1.6%, standing out as top performers. Conversely, Repsol, Eni, and Iberdrola saw slight declines of 0.5%, 0.3%, and 0.3%, respectively. Over the week, both the STOXX 50 and the STOXX 600 experienced nearly a 1.7% decrease, marking their first consecutive weekly declines since the beginning of April.