16.04.202607:36:28UTC+00European Stocks Edge Up, Earnings in Focus

European stocks edged higher on Thursday, with the STOXX 50 up 0.4% and the STOXX 600 advancing 0.2%, as investors continued to track geopolitical developments in the Middle East. Reports indicate that the US and Iran are considering a two‑week extension of the current ceasefire to allow more time for peace negotiations. The existing truce is due to expire next week. Despite this, shipping through the Strait of Hormuz remains halted, with the US naval blockade still in place.

Earnings updates were also in focus. ASML rose more than 2%, buoyed by strong results from key customer TSMC. SAP gained 0.8% and Prosus added 2%, while Tesco jumped more than 3% after reporting a robust underlying performance. On the downside, TotalEnergies slipped 0.5% even as it signaled a solid first quarter, and Pernod Ricard fell 1.4% after warning that disruptions linked to the Middle East conflict could result in an annual sales decline of up to 4%.