Jakarta, RakyatNTT.ID – The European stock market rally came to a halt as the pan-European STOXX 600 index closed nearly unchanged, with investors adopting a cautious stance amid rising geopolitical uncertainty linked to Donald Trump’s policy moves.

Market sentiment weakened following reports of a $2 billion Venezuelan oil import agreement, which sparked fears of a potential surge in global oil supply. The news sent oil prices sharply lower and dragged down major energy stocks, with Shell and BP each falling more than 3 percent.

Despite pressure on the energy sector, economic data from the euro zone offered a contrasting signal. Euro zone inflation slowed to 2 percent, providing a boost to property-related stocks. However, the same data weighed on banking shares, which tend to benefit from higher interest rate expectations.

Overall, the STOXX 600 slipped marginally by 0.05 percent, or 0.29 points, to 604.99, just one day after posting its highest closing level on record.

Performance across major European markets was mixed. Germany’s DAX index rose 0.92 percent, gaining 230.06 points to close at 25,122.26. Meanwhile, stock markets in Spain and Italy fell 0.29 percent and 0.43 percent, respectively, after all three markets had reached record highs in the previous session.