A trader works at his desk on the floor of the New York Stock Exchange (NYSE) in New York on May 19, 2026.
Timothy A. Clary | Afp | Getty Images
LONDON — European stocks were volatile on Thursday after Iran’s Supreme Leader ordered that the country’s near-weapons-grade uranium should not be sent abroad, threatening to complicate peace talks with the U.S.
The pan-European Stoxx 600 finished the day marginally higher after oscillating between gains and losses throughout the session. All major bourses and most sectors turned green in mid-afternoon trade.
In corporate news, Eutelsat, the Paris-headquartered global satellite operator, jumped 22% on Thursday. The rally in shares of Eutelsat — often described as the European challenger to SpaceX — comes ahead of the Elon Musk-backed rocket-maker’s landmark IPO.
However, there is a vast gap between the two companies in terms of scale. While SpaceX could be valued at a record-breaking $1.75 trillion at IPO early next month, Eutelsat has a market capitalization of just 4.05 billion euro ($4.7 billion).
German satellite maker OHB also racked up strong gains, while Luxembourg’s SES closed up 8%.
Elsewhere, shares in EasyJet were 0.9% higher on Thursday after the low-cost carrier revealed the Middle East conflict has delayed bookings and heightened costs. The London-listed airline reported a pre-tax loss of £552 million ($741 million) for the six months to March 31, up from £394 million a year ago.
Assassin’s Creed maker Ubisoft recovered from heavy losses in the session to close down 2%, after the French video game staple revealed an operating loss of 1.3 billion euros in its 2026 financial year.
BT Group shares were down 4.9% after the London-listed telecoms mainstay reported its full-year results. The group’s adjusted revenue was 4% lower, at £19.6 billion, due primarily to lower international revenue. Pre-tax profits were up 8% year-on-year to £1.4 billion in the full year to March 31.
Initial positive sentiment was evident in the Asia-Pacific trading session after U.S. President Donald Trump said that Washington was in the “final stages” of negotiations with Iran, according to a pool report.
West Texas Intermediate futures were last seen at $99.90 per barrel, a 1.7% rise on the day. International benchmark Brent futures were up 1.3% in morning dealmaking at $106.35 per barrel.
Trump said earlier this week that he called off renewed military strikes against Iran to give more time for diplomacy at the request of Gulf Arab allies.
Meanwhile, flash PMI data for the U.K. and France pointed to a slump in economic activity in May.
U.K. flash PMI contracted on the composite index, coming in at 48.5 versus analysts’ expected 51.6. U.K. flash manufacturing PMI was 53.7, beating the 53.0 forecast, as services PMI came in at 47.9, missing the 51.7 expected by analysts. France’s flash PMI composite index fell to 43.5 during May, down from 47.6 in April — its biggest drop in five-and-a-half years — with business activity also falling to a 66-month low.
— CNBC’s Justina Lee and Spencer Kimball contributed to the report.
