European Stocks Mixed, Iran War Concerns Dampen Sentiment
European stocks traded mixed on Tuesday morning (May 5) as investors digested the latest developments in the Iran conflict. The Stoxx 600 Index opened flat, with major sectors and bourses showing no unified direction.
Market sentiment remains fragile following Monday's global turmoil, amid concerns that the US-Iran ceasefire is increasingly fragile. Tensions escalated after a reported drone attack by the United Arab Emirates (UAE), while the US claimed to have sunk Iranian vessels in the Strait of Hormuz.
On the corporate front, Vodafone announced it would take full ownership of the VodafoneThree joint venture after agreeing to purchase CK Hutchinson's stake for £4.3 billion ($5.81 billion). The deal would make Vodafone the sole owner of the UK's largest mobile operator, and its shares were last seen rising 1.4%.
Unicredit posted its best quarter in history, with first-quarter net profit rising 16.1% year-on-year to €3.2 billion, beating the consensus of €2.8 billion according to the LSEG survey. It also raised its 2026 net profit target to at least €11 billion; its shares in Milan rose 3%. Rheinmetall rose 1% after reporting first-quarter revenue of €1.94 billion, below expectations of €2.3 billion, while HSBC posted first-quarter pre-tax profit of $9.4 billion, slightly below analysts' estimates. (asd)
Source: Newsmaker.id
