Live Markets: STOXX down on oil hit as earnings roll in

STMicroelectronics

23/07/2026 09:01

Adds new blog entry
STOXX 600 down 0.7%
Oil prices rise on Middle East war expansion
Energy stocks higher
Alphabet falls on capex plans
Wall St futures lower
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
     
STOXX DOWN ON OIL HIT AS EARNINGS ROLL IN 
Major European equity markets are lower on Thursday as the expansion of the Middle East war to the Red Sea pushed oil to its highest since early June. 
The Iranian-aligned Houthis said on Thursday they struck two Saudi oil tankers in the Red Sea, further complicating oil flows from the Middle East, which have already been disrupted by the almost complete closure of the Strait of Hormuz. 
The STOXX 600 is down 0.7% although remains within 2% of its record high hit earlier this month. About 60% of stocks in the index are falling. 
Energy stocks .SXEP are the bright spot on the surge in oil & gas prices, with the sub-index up over 1.2%.
In individual stocks news, STMicro STMPA.PA shares are down 15% after reporting second-quarter core profit that missed analyst expectations. 
On the flipside, France's Soitec SOIT.PA, which has risen 400% this year, is up 20% after its results. 
Looking forward, markets will be awaiting the ECB rate announcement at 1215 GMT. 
The central bank looks all but certain to keep interest rates unchanged but will hold the door open to another rate hike in September as the renewed jump in energy prices threatens to put upward pressure on inflation.
Here's your opening snapshot: 
(Samuel Indyk)
*****
     
EARLIER ON LIVE MARKETS: 
EUROPE BEFORE THE BELL: FUTURES SIGNAL SOFTER OPEN AS OIL JUMPS CLICK HERE
CAN MARKETS HANDLE MORE STRAIT TALK? CLICK HERE