Europe midday: Shares mixed as investors eye Trump Ukraine moves

(Sharecast News) - European shares were mixed at the end of a busy week for earnings as traders eyed the latest moves by US President Donald Trump to broker a deal to end the Russia-Ukraine war.

The pan-regional Stoxx 600 index was up 0.22% to 547 at 1213 BST. Germany's DAX was flat, while France's CAC 40 gained 0.22% and Britain's FTSE 100 gave up gains to be 0.06% a day after the Bank of England cut rates.

"European markets have kicked off the day with a somewhat cautious tone, with markets failing to gain traction on a day that brings the potential for volatility as the deadline runs out for Russia to end their conflict with Ukraine," said Rostro analyst Joshua Mahony.

"For markets, the impending meeting between Trump and Putin over the coming days does provide the basis to expect a more patient approach for the time being, with oil prices falling to a one-month low in a signal that market concerns over a shift away from Russian oil will be minimal."

"Nonetheless, anyone following previous discussions between Putin and Trump will likely remain somewhat sceptical around the possibility of a breakthrough, raising the chance of more oil volatility."

In equity news, Bechtle shares jumped after the German IT services provider released second-quarter results.

Georgia's TBC bank slumped despite reporting a rise in second-quarter operating profit.

Munich Re tumbled after the German reinsurer cut its full-year outlook for insurance revenue.

Reporting by Frank Prenesti for Sharecast.com