Europe Stocks Set for Worst Weekly Drop Since April on Iran War

b1ifwn9sw611qgti})43rrv)_media_dl_1.png BloombergArticle content(Bloomberg) — European shares headed for their worst weekly decline since April as the war in Iran showed no sign of nearing a resolution.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe Stoxx Europe 600 Index rebounded slightly on Friday, rising 0.2% as of 8:22 a.m. in London, to trim its weekly drop to 4.3%. Energy stocks rose as Brent crude traded above $85 a barrel with maritime traffic in the Strait of Hormuz effectively halted.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe region’s benchmark has whipsawed as investors grapple with the impact of higher oil prices on the inflation and interest-rate outlook. The conflict entered a seventh day, with a barrage of Iranian missiles and drones targeting at least five countries across the Middle East and Israel carrying out a 12th wave of airstrikes on Tehran. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentIn individual stocks, Zealand Pharma A/S sank as much as 32%, the most on record, after mid-stage trial results for its experimental obesity shot being developed with Roche Holding AG fell short of expectations.Article content“The de-risking remains orderly with little evidence of broad-based panic selling so far,” Barclays Plc strategists led by Emmanuel Cau wrote in a note.Article contentSECTORS IN FOCUSArticle contentIAG shares may be in focus Friday after Heathrow Airport Chief Executive Officer Thomas Woldbye said the Iran war is posing an “operational challenge” as the London hub faces hundreds of flight cancellations and a fleet of parked aircraft.Watch Europe’s chip-equipment stocks after US chipmaker Marvell Technology gave an estimate-beating revenue forecast, confirming strong demand from AI data centers.Article contentArticle contentFor more on equity markets:Article contentMarket Stress Levels Are Quietly Creeping Higher: Taking StockM&A Watch Europe: Senior, Delfin, Mutares, UBS, Delivery HeroThe Equity Offerings to Follow in Europe, Middle East and AfricaUS Stocks Continue Slide in Ragged Session as Iran War Grinds OnPrimark’s New Bosses: The London RushArticle contentYou want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.Article contentTrending Posthaste: Canada loses to the U.S. again, but this time it's not in the hockey rink News These eight charts show 'rupture' with Canada under Trump's tariffs Economy Bank of Canada governor warns of growing risks to financial stability Economy Posthaste: This dormant pipeline needs to be restarted for the sake of Canada, economists say News Posthaste: Canadians are paying more than lip service to Buy Canada — and now the numbers prove it News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Canada loses to the U.S. again, but this time it's not in the hockey rink News These eight charts show 'rupture' with Canada under Trump's tariffs Economy Bank of Canada governor warns of growing risks to financial stability Economy Posthaste: This dormant pipeline needs to be restarted for the sake of Canada, economists say News Posthaste: Canadians are paying more than lip service to Buy Canada — and now the numbers prove it News