June 4 (Reuters) - European shares were steady at the open on Thursday, as the Middle East conflict kept investors cautious, while beverage maker Remy Cointreau gained after announcing a turnaround plan.
The pan-European STOXX 600 index inched up 0.1% to 622.17 points by 0819 GMT.
Crude prices eased about 1% after Israel and Lebanon reached an agreement to implement a ceasefire. However, after several instances of escalating tensions between the U.S. and Iran earlier this week, investors were looking
for clearer signs that a peace deal could be imminent.
Markets also kept an eye on the financial services sector, a day after signs of strain in private markets rattled stocks in Europe and the United States.
Swiss asset manager Partners Group inched up 1%, steadying after Wednesday's slump when it said it expects a slowdown in fundraising in the second half of 2026 and into 2027 following uncertainty about redemptions from its open-ended evergreen funds.
Meanwhile, Remy Cointreau rose 9% after CEO Franck Marilly laid out a turnaround plan for the first time and said the beverage maker aimed to boost operating profit by around €100 million ($116.1 million) by 2028/29.
Universal Music Group lost 6.7% after announcing the repurchase of shares from Pershing Square Funds. The record company rejected an unsolicited takeover proposal from the investment group earlier this week.
(Reporting by Utkarsh Hathi and Johann M Cherian in Bengaluru; Editing by Harikrishnan Nair)
