European stocks were steady on Thursday as oil and bond markets stabilized, while Deutsche Telekom AG gained on news that activist investor Elliott Investment Management has built a sizeable stake. The Stoxx Europe 600 Index was little changed by 8:14 a.m. in London. Media stocks were the biggest gainers, while consumer products lagged the most. Energy stocks slipped as oil prices eased.

US President Donald Trump said renewed attacks on Iran would likely be short-lived, reiterating his claim Washington controls the Strait of Hormuz. Market sentiment remained cautious amid geopolitical tensions, though stability in oil and bonds supported equities.