European stocks halt 4-week gain
The four-week streak of gains for European markets has come to an end, as the STOXX 600 index declined by 0.2% amid a slowdown in corporate profits, despite an expected 23.4% growth in the second quarter supported by energy and materials sectors. Additionally, geopolitical tensions, especially the dispute between Iran and the United States over the Strait of Hormuz, have kept oil prices high and impacted economic performance. The market experienced sector divergence, with the healthcare sector falling due to a drop in Zealand Pharma's stock, while the defense sector rose amid widespread activity in Rheinmetall shares. Maersk's stock reached a four-year high following strong financial results.
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