European shares flat as investors eye earnings; energy drags

European equities showed little net movement early Monday, with the STOXX 600 at 636.26 points at 0809 GMT. The index was steady after recording its largest weekly decline since early September on Friday, as investors assessed company results and political disruption in France.

Oil retreated after nearing a six-month peak last week, as hopes of reduced US-Iran tensions strengthened. The energy sector lost 0.7%, while travel shares rose about 1% on the cheaper-fuel backdrop; officials from Saudi Arabia, Turkey and Pakistan are due to meet Iranian leaders in Tehran on Monday.

Company moves were mixed: Portugal’s Galp Energia posted a 68% increase in adjusted third-quarter net profit, yet its shares dropped 8.5%. Computacenter advanced 6.8% after lifting its full-year profit outlook. The report points to earnings and oil-price shifts as drivers of European sector performance, while also noting a planned regional diplomatic meeting involving Pakistan.