A trading floor manager works on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, U.S., Monday, May 4, 2026.
Michael Nagle | Bloomberg | Getty Images
LONDON — European stocks were mixed Tuesday morning as investors digested the latest developments in the Iran war.
Shortly after the opening, the pan-European Stoxx 600 index was stable, with no general consensus among sectors and major exchanges.
Global markets were shaken on Monday as they were fragile ceasefire between the United States and Iran seemed on the verge of collapse as the United Arab Emirates was attacked Iranian drones and missiles, and the United States has reported sinking Iranian boats in the Strait of Hormuz.
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American President Donald Trumpin a Fox News in an interview later Monday, warned Iran that it would be “wiped off the face of the earth” if it targeted U.S. ships that protect commercial vessels transiting the strait.
Trump also said in a Truth Social article that a South Korean cargo ship came under Iranian fire in the waterway. “Maybe it’s time for South Korea to join the mission!” Asset wrote in the message.
Stock indices closed significantly lower And oil prices have increased On Monday, there were fears that the war could continue much longer than expected, which could result in a global recession. Oil price declined overnight.
In corporate news, the telecoms giant Vodafone announced on Tuesday that it would take full ownership of its joint venture VodafoneThree, after agreeing to the stake buyout from Hong Kong conglomerate CK Hutchinson. The deal, worth £4.3 billion ($5.81 billion), will see Vodafone become the sole owner of the UK’s largest mobile operator.
Vodafone shares were last seen up 1.4%.
Elsewhere, the Italian lender Unicredit released its first quarter results on Tuesday morning, reporting its 21st quarter of profitable growth and its best quarter on record. Quarterly net profit rose 16.1% year-on-year to 3.2 billion euros ($3.74 billion), well above the 2.8 billion euros expected by analysts polled by LSEG. The bank, which makes a controversial offer buy out a German lender Commerzbank, The group raised its forecasts on Tuesday, saying it was targeting an annual net profit of at least 11 billion euros in 2026.
The bank’s Milan-listed shares were up 3% early in the morning.
Prime Minister of German Defense RheinmetallShares of ‘s stock rose 1%, following the release of the company’s first quarter results after the closing bell on Monday. Quarterly revenue jumped 7.7% year-on-year to 1.94 billion euros, below market expectations of 2.3 billion euros. Rheinmetall said it expects growth in the first half of this year to follow a similar trajectory to the previous year, when cumulative first-half revenue jumped 37% year-on-year.
Earlier Tuesday, Europe’s largest lender HSBC reported first-quarter pretax profit of $9.4 billion, slightly misses analyst estimates.
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— Kevin Breuninger of CNBC contributed to this market report.
