European stocks volatile on Thursday as Iran Supreme Leader orders uranium to stay in country

A trader works at his desk on the floor of the New York Stock Exchange (NYSE) in New York on May 19, 2026. LONDON — European stocks were volatile on Thursday after Iran's Supreme Leader ordered that the country's near-weapons-grade uranium should not be sent abroad, threatening to complicate peace talks with the U.S. The pan-European Stoxx 600 finished the day marginally higher after oscillating between gains and losses throughout the session.

All major bourses and most sectors turned green in mid-afternoon trade. In corporate news, Eutelsat , the Paris-headquartered global satellite operator, jumped 22% on Thursday. The rally in shares of Eutelsat — often described as the European challenger to SpaceX — comes ahead of the Elon Musk-backed rocket-maker's landmark IPO. However, there is a vast gap between the two companies in terms of scale. While SpaceX could be valued at a record-breaking $1.75 trillion at IPO early next month, Eutelsat has a market capitalization of just 4.05 billion euro ($4.7 billion). German satellite maker OHB also racked up strong gains, while Luxembourg's SES closed up 8%. Elsewhere, shares in EasyJet were 0.9% higher on Thursday after the low-cost carrier revealed the Middle East conflict has delayed bookings and heightened costs. The London-listed airline reported a pre-tax loss of £552 million ($741 million) for the six months to March 31, up from £394 million a year ago. Assassin's Creed maker Ubisoft recovered from heavy losses in the session to close down 2%, after the French video game staple revealed an operating loss of 1.3 billion euros in its 2026 financial year. BT Group shares were down 4.9% after the London-listed telecoms mainstay reported its full-year results. The group's adjusted revenue was 4% lower, at £19.6 billion, due primarily to lower international revenue. Pre-tax profits were up 8% year-on-year to £1.4 billion in the full year to March 31.

Key points

• All major bourses and most sectors turned green in mid-afternoon trade.
• In corporate news, Eutelsat , the Paris-headquartered global satellite operator, jumped 22% on Thursday.
• The rally in shares of Eutelsat — often described as the European challenger to SpaceX — comes ahead of the Elon Musk-backed rocket-maker's landmark IPO.
• However, there is a vast gap between the two companies in terms of scale.
• While SpaceX could be valued at a record-breaking $1.75 trillion at IPO early next month, Eutelsat has a market capitalization of just 4.05 billion euro ($4.7 billion).