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European Stocks Little Changed in Monday Trading; Middle East Fight Resumes Over Weekend

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The European stock markets were little changed in Monday trading as Middle East hostilities resumed over the weekend with Israel and Iran exchanging missile fire. The losses were tempered later in the session by media reports Monday that Iran said it has ceased attacks on Israel.

The Stoxx Europe and the FTSE 100 were marginally higher, France's CAC was marginally lower, Germany's DAX declined 0.4%, and the Swiss Market Index lost 0.4%.

And in corporate news, Sanofi's Sarclisa received European Commission's approval for its subcutaneous formulation across all European Union indications currently authorized for the intravenous treatment in multiple myeloma, the company said Monday.

With the approval, Sarclisa becomes the first anticancer medicine in the EU available through an on-body injector, enabling treatment in outpatient clinics and patients' homes.

Shares of the French pharmaceutical company fell 1.6% in Paris.

Eni and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said Monday.

Searah includes a portfolio of 14 gas-producing and development assets in Indonesia and five in Malaysia, starting from an initial base in excess of more than 300,000 barrels of oil equivalent per day, increasing to 500,000 within the next three years, the companies said.

Shares of Eni edged 0.2% lower in Milan.

AstraZeneca CEO Pascal Soriot said artificial intelligence is helping the drugmaker develop medicines faster, optimize drug design, and improve decision-making across research and development, CNBC reported late Friday.

Soriot said AI can help identify new drug targets, refine molecules and reduce potential side effects before clinical testing, boosting productivity throughout the development process.

Shares of the British pharmaceutical company declined 0.5% in London.

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