European shares flat as investors eye earnings; energy drags

European shares were subdued in early trading on ‌Monday as investors digested a slate of corporate earnings amid upheaval in France, while oil prices dipped on hopes of de-escalation in ‌the Middle East conflict.

The pan-European STOXX 600 index was ‌flat at 636.26 points by 0809 GMT, after logging its steepest weekly loss since early September on Friday. Oil prices fell after surging to near ⁠six-month ​highs last week, ⁠as hopes grew for a de-escalation in tensions between the United States and ⁠Iran. Top officials from Mecca Pact countries Saudi Arabia, Turkey and ​Pakistan are also set to meet Iran's leaders in Tehran ⁠on Monday.

The broader energy sector was down 0.7%. Travel stocks were a ⁠bright ​spot, up roughly 1%, helped by lower oil prices.

On the earnings front, Portugal's Galp Energia reported a 68% rise ⁠in third-quarter adjusted net profit on Monday, beating expectations. Shares of the ⁠company ⁠were down 8.5% Shares of technology services provider Computacenter gained 6.8% after the company raised its annual profit ‌guidance.