European Shares Broadly Lower Amid Middle East Tensions

(RTTNews) - European stocks were mostly lower on Thursday as investors digested mixed earnings results and kept a close eye on oil market dynamics amid an expanding Middle East conflict.

Oil extended gains as the U.S.-Israeli war on Iran entered its sixth day. WTI crude futures were up more than 1 percent after the United States submarine sank an Iranian warship off the southern coast of Sri Lanka.

In a Pentagon briefing, U.S. Defense Secretary Pete Hegseth said the strike on the warship was the first such attack on an enemy since World War II.

In economic releases, France's industrial production rebounded in January, driven by the robust recovery in transport equipment output, the statistical office INSEE said.

Industrial production expanded 0.5 percent on a monthly basis, offsetting December's 0.5 percent decrease. Output was expected to grow 0.4 percent.

The release of Eurozone retail sales data and a speech by European Central Bank President Christine Lagarde may garner investor attention later in the day.

The pan European Stoxx 600 dropped 0.4 percent to 610.46 after climbing 1.4 percent on Wednesday.

The German DAX dipped 0.4 percent and France's CAC 40 shed 0.6 percent while the U.K.'s FTSE 100 was up 0.3 percent.

British homebuilder Taylor Wimpey rallied 2.3 percent after launching a share buyback program worth up to £52.3 million.

Travel retailer WH Smith fell over 1 percent. The company has warned of potential disruption caused by war in the Middle East after reporting a 5 percent rise in first-half revenue.

PageGroup shares plunged 19 percent. The recruiter reported a 67 percent fall in annual pretax profit, hurt by weak European hiring and an uncertain economic outlook.

Financial services business Admiral surged 4 percent as it posted record profits despite a challenging economic backdrop.

Consumer goods firm Reckitt Benckiser fell 2.6 percent after maintaining its revenue growth targets for this fiscal year.

Insurer Aviva declined 2.3 percent despite meeting 2025 profit targets.

Germany's Deutsche Post slumped 4.6 percent after reporting lower FY25 attributable net profit.

Defense specialist RENK Group tumbled 3.2 percent despite the company achieving annual targets with new record revenue and order backlog.

Swedish radiotherapy equipment maker Elekta jumped 3.5 percent despite mixed-third-quarter results, with tariff costs and changes in FX showing a negative impact of 100 and 130 basis points respectively on the gross margin.