European stocks opened mixed Tuesday as geopolitical tensions escalated in the Middle East. The pan-European Stoxx 600 showed flat movement following escalating Iran-U.S. conflict, with drone attacks on the UAE and naval confrontations in the Strait of Hormuz rattling investor confidence. Markets fear prolonged regional conflict could trigger global recession concerns. Oil prices declined overnight after Monday's sharp surge. In corporate developments, Vodafone secured full control of VodafoneThree through a £4.3 billion buyout of CK Hutchinson's stake, with shares rising 1.4%. Italian bank UniCredit reported exceptional first-quarter earnings with net profit surging 16.1% year-on-year to 3.2 billion euros, exceeding analyst expectations. The bank raised full-year guidance to at least 11 billion euros, with Milan shares climbing 3%.
