European stocks held steady as banking stocks advanced, while investors awaited a high-stakes earnings report from Nvidia Corp. The Stoxx Europe 600 Index was little changed by the close. Banks as well as food and beverage stocks were among the biggest gainers, while health care declined.

Data showed US consumer spending stalled in July and a closely watched price gauge advanced in line with expectations. Separately, Iran’s military said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz as the two sides push for a wider deal on the management of the crucial waterway.

The region’s stocks have rebounded from last week’s losing streak, leaving the Stoxx 600 index less than 1% below its all-time closing record. However, performance has diverged across the region, with Italy and Spain leading gains this year, while France and Germany have trailed.

“You’ve got broad uncertainty hitting from a number of different elements and it’s not just oil,” said Stephanie Niven, portfolio manager at Ninety One, citing a lack of macro catalysts in Europe. In individual stocks, Software ONE Holding AG jumped 9.5% after reporting first-half results that beat estimates.