Iran War Casts Shadow Over European Earnings as Multiple Firms Flag War-Driven Losses

The Iran war is dominating European corporate earnings for Q1 2026. UK-based Ashmore reported $900 million in quarterly outflows as the Middle East war hammered emerging market assets. EasyJet warned of a bigger first-half loss citing fuel costs and legal bills linked to the conflict. Tesco flagged uncertainty from the war weighing on its profit outlook. TotalEnergies bucked the trend, expecting a sharp rise in Q1 earnings despite output losses, benefiting from higher energy prices. Schroders reported $1.5 billion in client withdrawals tied to Middle East unrest.