European shares steady on Mideast peace hopes
The STOXX 600 remained stable as markets monitored potential U.S.-Iran peace developments and a heavy flow of corporate results. While luxury stocks gained on renewed optimism, energy majors Shell and BP declined following updates to their buyback and profit outlooks.
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The LVMH held steady at 623.59 points on May 7 as investors weighed potential peace in the Middle East. The index remains 2% below levels seen before the conflict began despite a rally on May 6. A potential deal between the United States and Iran could stabilize energy-dependent European markets.
