European Stocks Dip as Iran Peace Talks Uncertainty Weighs on Markets; SAP Surges on Strong Earnings
European stock markets slipped on Friday as renewed uncertainty around U.S.–Iran peace negotiations dampened investor sentiment across the region. Despite the broader decline, optimism in the energy sector and a standout earnings report from SAP helped offset some of the losses in an otherwise cautious trading session.
The pan-European Stoxx 600 index fell about 0.5% in early trading, with most major bourses and sectors in negative territory. Mining stocks led the losses, dropping nearly 1.7%, while oil and gas shares gained around 1.2% as rising crude prices supported the sector. Investors remained sensitive to geopolitical developments, particularly in the Middle East, which continue to influence risk appetite across global markets.
Energy prices edged higher during the session, with Brent crude rising to about $105.65 per barrel and U.S. West Texas Intermediate climbing to $96.12. Market concerns were fueled by ongoing tensions after reports of U.S. forces inspecting an oil tanker linked to Iranian crude shipments. U.S. President Donald Trump also signaled that there was no fixed timeline for resolving the conflict, adding to uncertainty.
In corporate news, SAP emerged as one of the day’s biggest winners, with shares jumping over 6% after the German software giant reported a strong performance. The company posted nearly 17% growth in operating profit and a 19% rise in cloud revenue. SAP’s leadership highlighted its strong positioning in the artificial intelligence space, signaling increased investment in AI-driven business solutions going forward.
Elsewhere in Europe, Renault shares declined after the French automaker reported a 3.3% drop in first-quarter sales, even as overall revenues rose 7.3% to €12.5 billion. Investors also tracked fresh economic data, including stronger-than-expected UK retail sales, while awaiting updates on French consumer confidence and Germany’s Ifo Business Climate index.
source: cnbc