European Markets Stagnate Amid Middle East Turbulence

European shares remained steady as investors evaluated the economic ramifications of ongoing Middle East conflict. The STOXX 600 index hovered near two-month lows, with defense stocks declining and utilities gaining. Energy firms like Shell saw gains, and upcoming ECB policy meeting is in focus for future economic directives.

On Tuesday, European markets showed little movement as investors weighed the economic fallout of the ongoing conflict in the Middle East.

The pan-European STOXX 600 index remained flat at 598.11 points, hovering over two-month lows while defense stocks declined by 0.8%, and utilities saw a 0.7% rise, often used as bond proxies.

Energy companies, including Shell, experienced a 1% increase as crude oil prices remained above $100 per barrel, amid fresh Iranian attacks on the UAE. Investors are now eyeing the ECB policy meeting on Friday for possible indicators of future economic policies.

(With inputs from agencies.)