European stocks dip as Iran war uncertainty lingers
Shares listed in Europe dipped on Tuesday afternoon, as investors continue to monitor developments in the Middle East.
Konoly
A bull statue and a bear statue stand outside the Frankfurt Stock Exchange on April 7, 2025 in Frankfurt, Germany.
Florian Wiegand | Getty Images News | Getty Images
Shares listed in Europe dipped on Tuesday, as uncertainty around a resolution to the Iran war weighed on sentiment.
The pan-European Stoxx 600 was down 0.3% in mid-afternoon trade, with sectors mixed and major regional bourses oscillating above and below the flatline. Oil and gas stocks, utilities, and chemicals led gains, while miners, industrials and banks lagged the broader index.
In corporate news, Bellway shares dropped 14% after the U.K. homebuilder warned of "volatility" in the mortgage market caused by inflationary cost pressure.
"Investors will be less pleased to see an erosion of profit margins, with the company's operating margin reducing by 50 basis points," said Oli Creasey, head of property research at Quilter Cheviot.
Beauty conglomerate Estée Lauder said on Monday night that it was in talks with Spain's Puig — owner of Jean Paul Gaultier, Charlotte Tilbury and Rabanne — about a potential merger. Shares of Puig were last seen trading 14.8% higher.
Regional shares ended Monday's session in broadly positive territory after U.S. President Donald Trump said Washington had held productive talks over a "complete and total resolution" to the Iran conflict. The president told CNBC's Joe Kernen in a subsequent phone call that he was "very intent on making a deal with Iran."
However, Tehran later denied any talks with the U.S. had taken place.
On Tuesday morning, oil prices — which fell sharply after Trump's comments on Monday — rebounded, with global benchmark Brent crude futures rising almost 2% to reach $101.86.
Brent crude futures
Asian stocks tracked a rally on Wall Street overnight, but pared gains throughout the trading session. In the U.S., equities gave back a chunk of their gains as the war in Iran continued to fuel risk-off sentiment.
Outside of equities, gold eased earlier losses on Tuesday, with spot prices steadying around the flatline to reach $4,372.50 by 10 a.m. E.T.
Economic data out of Europe on Tuesday includes a manufacturing PMI print from Germany, an S&P Global flash manufacturing PMI for the U.K., and new car registrations in the EU.
Puig share price
