Oil and gas stocks gain amid Middle East conflict
Philips soars on Q2 earnings beat
Heineken down after operating profit growth miss

July 29 Reuters European shares started the week strong, lifted by global oil gains amid Middle East conflict fears and a slew of upbeat earnings, though a drop in Reckitt tempered the rally.

The panEuropean STOXX 600 index edged up 0.3, as of 0832 GMT on Monday, after the benchmark posted marginal gains last week.

Oil and gas stocks were on top, gaining 1.4, as crude prices inched higher following a rocket strike in the Israelioccupied Golan Heights.

Meanwhile, investors braced for a bustling week, with attention shifting to the U.S. as four of the 39;Magnificent 739; companies report, poised to significantly influence market sentiment.

The U.S. Federal Reserve39;s policy meeting is on Wednesday where traders are wagering the central bank will lay the groundwork for a September rate cut.

This week could very well end up setting the tone for the rest of the summer because we39;re going to learn how central banks are thinking about the trade offs they39;re facing, said Arun Sai, senior multiasset strategist at Pictet Asset Management.

Investors were on guard as a global tech selloff was sparked last week when results from Tesla and Alphabet failed to impress markets.

If we went into this earnings season expecting the same kind of beats that we had the last three or four quarters we are in for some disappointment. We got a little…