European Markets: Energy Stocks Shine Amid Middle East Tensions

European shares remained steady as investors weighed potential Middle East conflicts. Despite this, energy stocks boosted the STOXX 600 index. Concerns over oil supply disruptions increased following talks of potential Israeli strikes on Iran. Meanwhile, Denmark's DSV saw a significant uptick after a substantial share issue.

European shares experienced a subdued trading day on Friday as investors carefully evaluated the possible implications of escalating tensions in the Middle East. Despite the uncertainty, energy stocks provided a buoyant lift to the market.

The pan-European STOXX 600 index managed to hold its position at 516.40 points by 0709 GMT, maintaining its stance during a difficult week potentially culminating in the worst since early September. Notably, oil stocks surged, posting a 0.7% gain and looking to cap off one of their strongest weeks in nearly half a year, showcasing a 4.1% rise so far.

Geopolitical worries loomed as discussions in the U.S. emerged over whether to back Israeli military action against Iran's oil infrastructure, a move suggesting possible disruptions to oil supplies. Additionally, important voices from the European Central Bank are anticipated throughout the day. Meanwhile, Danish transport firm DSV's shares soared 6.6% post-announcement of a $5.5 billion share issue to partly fund its acquisition of Schenker, adding positive momentum to the market.

(With inputs from agencies.)