23.07.202607:34:13UTC+00European Stocks Lower

European stocks declined on Thursday, with both the STOXX 50 and STOXX 600 losing 0.8%, as rising oil prices and escalating tensions in the Middle East weighed on risk appetite. The US carried out strikes on Iran for a 12th consecutive day, while the Houthis claimed attacks on two Saudi oil tankers. At the same time, investors were digesting a new wave of corporate earnings and looking ahead to the ECB’s monetary policy decision.

BNP Paribas slipped 1.2% despite posting profit and revenue ahead of expectations. UniCredit fell 1.7%, even after reporting a 6.6% year-on-year increase in revenue and stating that it aims to acquire Commerzbank in the fourth quarter. Nestlé dropped more than 6% after announcing a deal to sell half of its water business to private equity firm Platinum Equity.

In contrast, TotalEnergies gained 1.8% after reporting its strongest quarterly profit in three years, while Dassault Aviation surged nearly 8% to lead the STOXX 600, supported by higher first-half earnings.