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The pan-European STOXX 600 rose 0.7% to 640.66 points by 0704 GMT, putting the benchmark on course for its first weekly advance after three consecutive weeks of losses. Most regional markets also traded in positive territory. Read more: Global Market: Japanese shares rise on AI stocks, dividend buying; Nikkei up 1.2% Oil prices retreat amid truce hopes Oil prices eased after rising for two consecutive sessions as markets assessed the possibility of a truce between the United States and Iran alongside continued tensions in the Middle East. Investors were weighing the prospects of a US-Iran agreement against Iranian President Masoud Pezeshkian's pledge that the country would not surrender. Concerns were also heightened by the bombing of Saudi Arabia by Houthi rebels. Reuters reported that the uncertainty surrounding the conflict continued to keep investors focused on potential disruptions to energy supplies and the broader economic impact of higher oil prices. Airlines gain as fuel costs ease Energy stocks were among the biggest decliners on Friday, with the sector falling 0.7% as oil prices pulled back. Airline shares, which are particularly sensitive to fuel costs, benefited from the decline in crude prices. Ryanair and Lufthansa each gained more than 2%. The travel and leisure sector also advanced, rising 1.2%, as easing oil prices offered some relief to companies exposed to transportation and fuel costs. Global Market: Hong Kong stocks slide as investors await Trump-Xi summit details German consumer sentiment weakens Germany's benchmark DAX rose 0.6% despite a deterioration in consumer sentiment. A survey showed that German consumer confidence weakened more sharply than expected heading into October, with higher energy prices weighing on households' expectations for their incomes. Reuters reported that the deterioration in sentiment highlighted the pressure that elevated energy costs continue to place on consumers in Europe's largest economy. Konecranes shares jump Among individual stocks, Finland's Konecranes climbed 5.1% after the industrial equipment maker announced a share buyback programme and raised its financial targets. The gains in Konecranes added to the broader positive tone in European equities, with investors also monitoring corporate developments alongside geopolitical risks and the outlook for interest rates and economic growth. For the broader European market, easing oil prices provided some support, but uncertainty over the Middle East remained a key factor shaping investor sentiment. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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