European equity funds pulled in $13.52 billion in the week through August 12, their biggest weekly intake since July 8, as investors rotated toward the region even as reported Iranian contingency planning introduced a new geopolitical test for that trade. LSEG Lipper data showed Europe captured 72.6% of the $18.62 billion that went into global equity funds during a 12th straight week of inflows, while technology funds saw $1.7 billion of withdrawals as semiconductor volatility rose and earlier signs of cooling hostilities had supported regional sentiment. The shift had already begun in July, when European stock ETFs posted their first positive month since February and BeInCrypto reported $4.4 billion of inflows into BlackRock products. The Financial Times, citing two people close to the regime, said Iranian forces had examined possible attacks on U.S. military targets in Europe, including Bulgaria's Bezmer air base and Cyprus, if Donald Trump escalates the war, and had also weighed cutting subsea fiber-optic cables in the Strait of Hormuz. The report adds to an already tense backdrop in which Trump is reportedly considering more intensive attacks on Iran if economic pressure fails, while disruption around the Strait of Hormuz, uncertain diplomacy and lower market-implied odds of a 2026 U.S.-Iran deal continue to shape energy markets and risk sentiment. Analysts cited in the report said the threat to Europe is real but constrained by range and by questions over how many long-range weapons Tehran can deploy.