Jun 23, 07:09 AM

European Stocks Slip as US Strikes Iran Push Oil Higher

European equities opened lower on Monday after the United States carried out air strikes on Iranian nuclear facilities at Isfahan, Natanz and Fordo, raising the risk of a wider conflict in the Middle East. Futures had signalled a weak start and by early trading the Euro Stoxx 50 slipped 0.6%, Germany’s DAX lost 0.5%, France’s CAC 40 fell 0.7%, London’s FTSE 100 eased 0.4% and Italy’s FTSE MIB declined 0.9%. Spain’s Ibex 35 underperformed, dropping 0.7% to 13,758 and falling below the 13,800-point mark. Defensive energy names such as Repsol gained 1.1%, but aerospace and travel stocks led declines, with Indra down 3.3% and IAG off 2.4%. Oil prices firmed on supply-route concerns, with Brent crude advancing about 1.3% to $76.4 a barrel and West Texas Intermediate approaching $74.8. Traders are monitoring the possibility of disruption in the Strait of Hormuz, which handles roughly a fifth of global seaborne crude flows. Beyond geopolitics, investors await June flash purchasing-managers’ indexes and a hearing with European Central Bank President Christine Lagarde later in the day for clues on the region’s growth and policy outlook.

Written with ChatGPT .

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