European shares steady with focus on geopolitical risks

European shares were steady at the open on Thursday as the Middle East conflict kept investors cautious, while beverage maker Rémy Cointreau gained after unveiling a turnaround plan, News.Az reports, citing Reuters.

The pan-European STOXX 600 index edged up 0.1% to 622.17 points by 0819 GMT.

Crude oil prices eased about 1% after Israel and Lebanon reached an agreement to implement a ceasefire. However, following several episodes of escalating tensions between the United States and Iran earlier this week, investors continued to look for clearer signs of a potential de-escalation or peace deal.

Markets also monitored the financial services sector, a day after signs of strain in private markets unsettled stocks in both Europe and the United States.

Swiss asset manager Partners Group rose about 1%, stabilising after Wednesday’s decline when it said it expects a slowdown in fundraising in the second half of 2026 and into 2027 due to uncertainty over redemptions from its open-ended evergreen funds.

Meanwhile, Rémy Cointreau climbed 9% after CEO Franck Marilly presented a turnaround plan for the first time, saying the company aims to increase operating profit by around €100 million ($116.1 million) by 2028/29.

Universal Music Group fell 6.7% after announcing a share buyback from Pershing Square Funds. The company had previously rejected an unsolicited takeover proposal from the investment group earlier in the week.

News.Az 

By Nijat Babayev