European equities hold steady amidst geopolitical tensions and packed week of earnings reports

European equities held steady on Monday, kicking off a week brimming with earnings releases and the European Central Bank’s (ECB) policy meeting. However, persistent geopolitical tensions in the Middle East kept investors cautious.

The pan-European STOXX 600 eked out a modest 0.1% gain as of 0703 GMT, following a more than 3% decline in the preceding week.

Concerns stemming from geopolitical issues dampened market sentiment, particularly as Washington issued warnings about a significant risk to U.S. interests in the Middle East. This, coupled with a surge in government bond yields, added to the overall pressure.

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In notable market movements, Philips saw a 1.0% uptick after the Dutch health technology company upgraded its full-year outlook. Meanwhile, Indivior surged by 6% after announcing a $385 million settlement in a lawsuit.

Conversely, energy stocks experienced a 0.8% dip, mirroring a retreat in crude oil prices.

Throughout the week, investors will closely track earnings reports from major U.S. technology giants like Microsoft and Alphabet. Additionally, the ECB’s interest rate decision on Thursday will be a focal point of interest.