An oil pumpjack operates in the Inglewood Oil Field on March 10, 2026 near Los Angeles, California.
Mario Tama | Getty Images
LONDON — European stocks finished lower on Thursday as investors monitored the Iran war and volatile global oil prices.
The pan-European Stoxx 600 finished the session about 0.7% lower, with underlying sectors painting a mixed picture.
Chemicals and utilities led gains, while bank stocks dragged on the index as investor concerns over their exposure to the Middle East gathered steam.
European corporate news
Shares of Leonardo closed 5.7% higher after the Italian defense giant reported stronger-than-expected revenues of 19.5 billion euros ($22.5 billion) and a full-year net profit of 1 billion euros, up 19% from the previous year.
Leonardo said it expects revenues to rise to around 21 billion this year. The group is targeting revenues of 30 billion euros by 2030, with cumulative orders forecasted at 142 billion euros over the next five years.
Abivax shares ended 6.8% higher as rumors re-emerged of a looming takeover bid for the biotech group, which the company denied later in the day.
The French company was Europe’s best performer in 2025 after publishing surprisingly strong data for a late-stage trial for an ulcerative colitis medicine.
Elsewhere, German auto giant BMW said Thursday that net profit for 2025 exceeded 7 billion euros, slightly above the consensus estimate compiled by LSEG. However, the company cited “tariff-related burdens” facing the wider vehicle sector, which it said would impact its EBIT margin in its automotive division by around 1.25 percentage points this year.
Shares of the carmaker were up 1.3% as markets closed.
In the UK
HSBC shares fell 6% after the bank’s decision to close its Qatar branches indefinitely prompted fresh concerns about its exposure to the Middle East.
The decision on Wednesday came after Tehran announced it would target economic and banking assets associated with the U.S. and Israel in the region, following an attack on an Iranian bank.
Savills announced the $1.1 billion takeover of US-based real estate investment bank Eastdil Secured alongside a solid full-year earnings report.
The U.K.-based real estate agent said profits before tax jumped 11% in 2025 to £145 million ($194 million), as the group revealed its expansion into the US market.
But Savills shares edged lower on the day, sliding 7.2% as investors digested the details of the acquisition.
— CNBC’s Dan Mangan contributed to this market report.
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2026-03-12 11:44:55
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