Europe open: Shares rise despite US-Iran tensions after Trump threat

(Sharecast News) - European shares were higher at the open on Friday as investors eyed the stand-off between the US and Iran, while corporate earnings remained in focus. The pan-regional Stoxx 600 index was up 0.27% to 627 at 0831 GMT with all major bourses higher.

US President Donald Trump said he would make a decision on whether to attack Iran in the next 10 days after talks between the two countries over Tehran's nuclear programme ended without agreement.

A US military build-up in the region caused a spike in oil prices this week with Brent crude jumping above $71 a barrel on fears a conflict in the region would hit supply.

"So now we may have to take it a step further, or we may not," Trump said at the inaugural meeting of his so-called 'Board of Peace'. "Maybe we're going to make a deal. You're going to be finding out over the next probably 10 days."

"We have to make a meaningful deal otherwise bad things happen."

In economic news, German producer prices fell more than expected in January, decreasing by 3% on the year, the federal statistics office reported on. Analysts had forecast a 2.1% decline.

On the equities front, shares in Moncler surged after the Italian fashion brand said sales rose during the final quarter of last year, helped by strong festive season trade.

Kingspan jumped after the building firm's annual results.

Reporting by Frank Prenesti for Sharecast.com