European Stocks Remain Stable Amid Geopolitical Tensions

Sana'a: European stocks were largely unchanged in trading on Friday, but are on track for a slight weekly loss as investors await developments in efforts to end the war in the Middle East, as well as key economic data from the Eurozone. The pan-European STOXX 600 index held steady at 659.48 points, near its record highs, after falling earlier in the week, according to CNBC. According to Yemen News Agency,The index was supported by a strong earnings season, with STOXX 600 companies' second-quarter profit forecasts rising for the eighth consecutive week, with overall earnings growth expected to reach 23.4%. Conversely, escalating geopolitical tensions and rising oil prices dampened investor risk appetite. Oil futures rose by about 1% to $87.93 a barrel after the United States threatened an open-ended naval blockade of Iran, raising concerns about disruptions to oil supplies. On a sectoral level, technology led the gains, rising 1.4%, while basic resources led the losses, declining 1.6%. Markets are awaiting e mployment and GDP data from the Eurozone for further indications of the region's economic performance.