Published August 12, 2026 Updated about 2 hours ago FRANKFURT: European shares ended little changed on Tuesday, hovering near record highs as optimism over a strong earnings season offset caution stemming from uncertainty around the supply of energy through the Strait of Hormuz. The pan-European STOXX 600 was flat at 660.51 points, holding near all-time highs after a recent rally driven by upbeat corporate results, as investors balanced earnings optimism against geopolitical risks in the Middle East. “The bigger question is can that earnings momentum be sustained? The market seems to think so,” said Steve Sosnick, chief market analyst at Interactive Brokers. “As long as the world’s energy supplies don’t get any worse, it’s reasonable to think that could occur.” LSEG estimates show that earnings are expected to increase 22 percent in the second quarter. Excluding the energy sector, however, earnings growth is projected to be 11.5 percent. Oil prices firmed 1.2 percent on Tuesday as traders weighed signs of progress in Iran-Oman talks against evidence of continued disruption to energy flows, with Kpler data showing traffic through the Strait of Hormuz at six vessels on Monday, compared with a 10-day average of roughly 11. Meanwhile, Bloomberg…