European Midday Briefing : Stocks Fall, Oil Rises on U.S-Iran Hostilities

MARKET WRAPS Stocks: European indexes were mostly declining Wednesday after the U.S. and Iran exchanged heavy fire and diplomatic efforts for peace stalled. Despite the most intense fighting in months, U.S. Central Command said the tenuous ceasefire was still ongoing. Brent crude rose above $98. Energy and utilities were among the few sectors gaining on the Stoxx 600. The IBEX 35 was the only major European index in the green during mid-morning trade, lifted by Inditex reporting accelerating sales . “Market pessimism once again grows over the prospects of a U.S.-Iran deal that could pave the way for a reopening…