European shares slip 0.4% as Middle East tensions, US-China talks weigh

  • European shares declined as investors weighed Middle East tensions and pending US-China talks.
  • 0.4% was the STOXX 600 decline to 637.56 points by 0710 GMT.
  • Shelly Group gained 6.2% after Schneider announced a planned €1.2 billion takeover bid.

European shares edged lower on Sept. 24 as investors assessed persistent Middle East tensions and awaited highly anticipated talks between the United States and China. The pan-European STOXX 600, a benchmark index of European shares, was down 0.4% at 637.56 points by 0710 GMT, while most regional bourses also declined. Geopolitical uncertainty kept energy markets volatile, and Brent crude futures remained above the key $100-per-barrel level as traders reassessed supply risks. Iranian officials communicated with US envoys at the UN General Assembly, but both sides signalled little progress toward ending the conflict. European energy shares gained 0.3%, while aerospace and defence stocks led sectoral declines, weighed down by Saab and Hensoldt. The summit between US President Donald Trump and Chinese President Xi Jinping was also in focus amid hopes for progress on trade relations. Shelly Group rose 6.2% after Schneider said it intended to launch a €1.2 billion ($1.4 billion) takeover bid for the Bulgarian smart-device maker. H&M shares fell 2.5% despite the Swedish fashion retailer reporting a bigger-than-expected increase in June-August operating profit.

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