European shares steady as investors eye Mideast tensions; Remy gains
- The pan-European STOXX 600 index inched up 0.1% to 622.17 points
European shares were steady at the open on Thursday, as the Middle East conflict kept investors cautious, while beverage maker Remy Cointreau gained after announcing a turnaround plan.
The pan-European STOXX 600 index inched up 0.1% to 622.17 points by 0819 GMT.
Crude prices eased about 1% after Israel and Lebanon reached an agreement to implement a ceasefire. However, after several instances of escalating tensions between the U.S. and Iran earlier this week, investors were looking for clearer signs that a peace deal could be imminent.
Markets also kept an eye on the financial services sector, a day after signs of strain in private markets rattled stocks in Europe and the United States.
Swiss asset manager Partners Group inched up 1%, steadying after Wednesday’s slump when it said it expects a slowdown in fundraising in the second half of 2026 and into 2027 following uncertainty about redemptions from its open-ended evergreen funds.
Meanwhile, Remy Cointreau rose 9% after CEO Franck Marilly laid out a turnaround plan for the first time and said the beverage maker aimed to boost operating profit by around €100 million ($116.1 million) by 2028/29.
Universal Music Group lost 6.7% after announcing the repurchase of shares from Pershing Square Funds. The record company rejected an unsolicited takeover proposal from the investment group earlier this week.
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