Muscat: European stocks inched up today as investors drew some comfort from hopes of de-escalation in the Middle East war, but benchmark index was still set for its sharpest monthly decline since 2020 amid supply-chain disruptions. The pan-European STOXX 600 index was up 0.2% at 581.92 points. The benchmark index, down 8.2% in March, is on track to break an eight-month streak of gains and log its first quarterly decline in financial services.
According to Oman News Agency, financial services stocks gained 0.8% and led sectors higher. Unilever added 0.7%, contributing to the mild rise in the European markets. Despite the slight uptick, the market remains under pressure due to ongoing supply-chain issues and geopolitical tensions. The current situation indicates a complex environment where investors are cautious yet hopeful for a resolution in the Middle East that could stabilize the markets.