European shares open flat, set for worst week in one month
2024.10.04 03:30
(Reuters) – European shares were subdued on Friday, as investors gauged the prospects of a wider regional conflict in the Middle East, although upbeat performances in energy stocks kept the benchmark index afloat.
The pan-European held its ground at 516.40 points, as of 0709 GMT. The index is on track for its worst week since Sept. 2, if losses hold.
Oil stocks gained 0.7% and are poised for their best week in nearly six months. The sub-index has climbed 4.1% so far this week and stood out as the sole sector to record gains.
The U.S. is discussing whether it would support Israeli strikes on Iran’s oil facilities as retaliation for Tehran’s missile attack on Israel, causing worries about potential disruptions to oil supply. [O/R]
A slew of ECB officials – Luis de Guindos, Claudia Buch and Frank Elderson – are set to speak at various events through the day.
Rate-sensitive real estate stocks also helped the index from turning negative, with a 0.6% jump.
Among individual stocks, Denmark’s DSV jumped 6.6% after the Danish transport firm raised $5.5 billion in a share issue to partially finance its acquisition of Schenker.
