European stocks dip on Mideast tensions; Zara owner Inditex gains

Energy price-sensitive airlines such as Lufthansa and Air France slipped ⁠1% ​each, while auto stocks led sectoral declines with a 1.2% drop. Among other stocks, Inditex jumped nearly ⁠5% after the Spanish company reported a strong start to summer ⁠trading.

European shares fell marginally on Wednesday ‌as renewed hostilities in the Middle East sent oil prices higher and dampened expectations for an imminent peace deal, while ‌Zara owner Inditex gained after reporting a strong start ‌to the summer.

The pan-European STOXX 600 index dipped 0.1% to 624.32 points by 0805 GMT. Tensions in the Middle East escalated as ⁠the ​U.S. military said ⁠it thwarted Iranian missile attacks on Bahrain, Kuwait and other regional targets, ⁠sending Brent crude prices up 2%.

However, U.S. President Donald ​Trump's comments that talks with Iran were ongoing kept ⁠losses in check. Energy price-sensitive airlines such as Lufthansa and Air France slipped ⁠1% ​each, while auto stocks led sectoral declines with a 1.2% drop.

Among other stocks, Inditex jumped nearly ⁠5% after the Spanish company reported a strong start to summer ⁠trading. The ⁠broader retail sector climbed 2% and gained the most among sectors.