Thick smoke rises as reporters and local residents visit a building destroyed by Israeli air strikes during a media tour in Beirut, Lebanon, on October 2, 2024.
Daniel Card | Getty Images
LONDON – European stocks ended lower on Thursday as conflict in the Middle East weighed on regional investor sentiment.
Pan-European Stoke 600 It temporarily closed down 1%, with almost all sectors and major exchanges reporting losses. Construction and materials stocks fell 2%, while oil and gas stocks were the only stocks to maintain gains, closing up 0.3%.
Auto stocks also fell 2.17% Report The European Union may impose tariffs of up to 45% on Chinese electric vehicle (EV) manufacturers as early as Friday, but European carmakers have objected. Strantis fell 4%, while Volvo A drop of more than 3%. Porsche and Renault Was also pulled back.
European stocks ended mixed on Wednesday as investors assessed the ongoing conflict in the Middle East and the latest unemployment data from the euro zone, which showed the euro zone unemployment rate held steady at a record low of 6.4% in August.
Earlier on Thursday, Israel attacked central Beirut as it pursued the Iran-backed militant group Hezbollah, killing at least six people. Israel began a ground invasion of Lebanon on Tuesday and launched an attack on Beirut earlier today, after Iran fired some 180 ballistic missiles at Israel earlier this week. Israeli authorities said the attack caused no casualties and most of the missiles were intercepted.
In Asia-Pacific, Hong Kong stocks plunged overnight as a rebound in China's stimulus measures appeared to be easing after authorities announced a series of support measures last week. Markets in mainland China remain closed until October 8.
Meanwhile, U.S. stocks fell on Thursday as weekly jobless claims came in slightly higher than expected. The data comes ahead of the all-important September non-farm payrolls report, due out on Friday.