European Shares Log Weekly Gains as Oil Eases

The STOXX 600 closed 0.4% higher on Friday, Sept. 25, 2026, for a 0.5% weekly gain, its biggest since early August, snapping a three-week losing streak after the index had lost about 3%. Oil prices retreated most of the week amid truce hope reports and Houthi attacks on Saudi Arabia. Energy shares fell 1.3% while banks rose 1.3%, financial services 1.1%, and Ryanair and Lufthansa each more than 2%. Konecranes jumped 7.4% after a buyback programme and raised targets. UBS rose 3.5% on a Semafor report of discussions to exit Switzerland. Glencore rose about 2% after a UBS upgrade to buy from neutral. Bond yields headed for a seventh weekly rise with crude near $100 a barrel. Daniela Hathorn of Capital.com said: "Even though the conflict in the Middle East seems like it's potentially reaching a positive phase of dialogue and agreement, there's still a lot of uncertainty because we've been here before." Paige Henderson of Allspring Global Investments said: "Absent a shock or surprising economic or political developments, the STOXX 600 could continue to grind higher through year-end." Negotiators were reportedly exploring a path involving Iran reopening the Strait of Hormuz and the US lifting its economic blockade on Iran.