European Shares Flat as BMW Slides, Markets Wait on Iran Deal Text

📉 MARKETS — BMW sliding while everyone waits for a text nobody's read yet. 📌 LOOK CLOSER: European equities flat but BMW's slide flags where the real exposure sits: German auto margins depend on energy costs that won't normalize until Hormuz mines are cleared and loadings resume. Markets priced in peace last session; now they're waiting on a text Trump promised to release but hasn't. If Geneva slips Thursday, BMW isn't the only one repricing.