FX.co ★ European Stocks Tread Water

European equities were broadly rangebound on Friday, with both the STOXX 50 and STOXX 600 trading near unchanged levels. Nonetheless, both indices were on track to deliver modest weekly gains as investors weighed ongoing tensions in the Middle East alongside possible progress in US–Iran talks. US President Trump said prospects for reaching a deal with Iran were “looking very good,” noting that negotiations could resume over the weekend. He also asserted, without providing evidence, that Iran had accepted terms it had previously rejected. Among individual names, SAP (up 1.3%), Hermès (up 0.9%), EssilorLuxottica (up 1.2%) and Sanofi (up 0.8%) advanced, while ASML Holding (down 0.8%) and Siemens Energy (down 1.4%) moved lower. Ericsson fell around 2.5% after reporting weaker-than-expected earnings. For the week, the STOXX 50 was up 0.2%, and the STOXX 600 gained 0.4%.