European equities traded slightly lower on Friday as investors reacted to limited signs of progress between the U.S. and Iran in easing tensions across the Middle East.
The Strait of Hormuz remained largely shut, keeping oil prices elevated and fuelling concerns that the conflict could drag on longer than markets had anticipated.
A report from the Wall Street Journal indicated that the U.S. military may require up to six years to rebuild missile stockpiles used during the conflict with Iran.
The CAC 40 slipped 0.4%, while the FTSE 100 declined 0.3%. In contrast, Germany’s DAX edged up 0.2%.
Corporate Movers
Electrolux (LSE:0GQ1) shares dropped sharply after the company unexpectedly reported a first-quarter loss, driven by increased tariff costs in the United States.
Mondi (LSE:MNDI) also fell after posting a steep decline in first-quarter profit.
Evotec (TG:EVT) moved lower following the resignation of CFO Paul Hitchin for personal reasons.
On the upside, SAP (TG:SAP) surged after delivering first-quarter profit above expectations.
Eni (BIT:ENI) gained after announcing a roughly 90% increase to its 2026 share buyback programme.
Meanwhile, J Sainsbury (LSE:SBRY) advanced after unveiling a share repurchase plan of up to £300 million.
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