European equity markets were largely flat on Tuesday, with the Stoxx 600 unchanged, the German DAX down 0.3%, the French CAC 40 down 0.4%, and the UK FTSE 100 up 0.5%.
U.S. forces carried out defensive strikes in southern Iran, sinking two IRGC vessels and targeting missile launchers near Bandar Abbas, prompting Iranian missile retaliation.
Brent crude futures rose 2.4% to $98.39 per barrel, remaining well above the pre‑war level of around $70, keeping energy‑related inflation pressures in view.
European energy stocks, including Eni, Repsol and TotalEnergies, posted gains, while Ferrari shares fell more than 5% after the launch of its first fully‑electric vehicle.
President Donald Trump commented that negotiations were proceeding “nicely” but warned of escalation if a deal is not reached.
