European shares rise on energy and defense stocks despite Mideast tensions, positive.

From Investing.com: 2024-10-02 04:55:28

European shares rose on Wednesday, driven by energy and defence stocks, despite concerns over Iran’s missile strike on Israel. The pan-European was up 0.3% at 522.37 points, with the energy sector gaining 2.4%. Defence companies like Rheinmetall and BAE Systems saw gains of 2-3%. Israeli Prime Minister vowed Iran would pay for the attack, while tensions rose in the region.

European aerospace and defence stocks increased nearly 1%, while basic resources rose 0.9% on higher prices due to Chinese stimulus measures. Euro-zone unemployment data for August and ECB comments are awaited. Rate-sensitive real estate stocks declined, with Citigroup expecting ECB rate cuts in October. Markets anticipate a shift to frequent rate cuts.

JD Sports Fashion stock fell 2.5%, despite surpassing profit forecasts in the first half. Spain reported a slight uptick in jobless numbers for September. The benchmark was trading flat amid market fluctuations.



Read more at Investing.com: European shares defy global slump amid Mideast tensions, energy stocks jump By Reuters