Europe midday: Shares extend gains despite US-Iran exchanges

(Sharecast News) - European shares extended gains by midday despite the US and Iran once again exchanging missile strikes. The pan-regional Stoxx 600 index was up 0.76% to 622 at 1202 BST with all markets higher.

Kuwait temporarily closed its airspace after its air defences were deployed to deal with incoming attacks from Iran, while Tehran also targeted Bahrain and Jordan, which host US military bases.

US Central Command said it had completed a second round of airstrikes on Iran, targeting "military surveillance capabilities, communication systems and air defence sites".

Oil prices fell, with Brent crude down 1.17% to $92 a barrel and West Texas Intermediate slipped below $90.

Inequity news, shares in Hugo Boss surged after its largest shareholder, Frasers Group launched a €2bn bid for the German fashion company.

Safety equipment specialist Halma fell despite posting a jump in full-year earnings.

Reporting by Frank Prenesti for Sharecast.com