Europe midday: Shares hold gains on eurozone survey data

(Sharecast News) - European shares were higher on Friday as investors eyed the stand-off between the US and Iran, while corporate earnings and regional data remained in focus including upbeat news on eurozone business activity. The pan-regional Stoxx 600 index was up 0.44% to 628 at 1200 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.

Private business activity across the eurozone increased at its fastest pace in three months in February, with the manufacturing sector returning to growth for only the second time in three and a half years.

The flash estimate of February's Hamburg Commercial Bank (HCOB) composite purchasing managers' index (PMI) rose to 51.9 from 51.3 in January.

This was the 14th straight month of above-50 readings - the point which separates growth from contraction - and ahead of the 51.5 consensus forecast.

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.

Siegfried Holding fell as the Swiss life-science company gave a cautious outlook for 2026 as last year's revenue slightly missed analyst expectations.

Shares in Unipol were up as the Italian insurer posted a 36.8% rise in full-year earnings.

Reporting by Frank Prenesti for Sharecast.com