Global Market: European shares steady, set for weekly loss as oil surge, earnings keep investors cautious

European shares were broadly flat with the STOXX 600 at 639.36 points, heading for a weekly loss as oil prices above 100 dollars per barrel and cautious earnings kept investors on edge. SAP surged 4.5 percent on better-than-expected cloud backlog growth, while Finnish refiner Neste dragged energy stocks after a slight earnings miss. New US tariffs of 10 to 12.5 percent on imports from 60 trading partners added to trade uncertainty, compounding geopolitical risks from Houthi attacks on Saudi oil tankers in the Red Sea.