European shares slip as U.S.-Iran strikes lift oil prices and bond yields

  • European shares dipped after U.S.-Iran strikes pushed oil prices and bond yields higher.
  • Brent crude rose more than 2% to around $90.70 a barrel.
  • STOXX 600 remained on track for its fifth consecutive monthly gain.

European shares opened lower after fresh U.S.-Iran military strikes pushed oil prices and bond yields higher, although the pan-European STOXX 600 remained on track for a fifth straight monthly gain. The index was flat at about 655 points by 0712 GMT after an initially weaker session, while London markets were closed for a bank holiday. Energy stocks rose 0.6% as Brent crude gained more than 2% to around $90.70 a barrel. U.S. forces struck two missile launchers on Iran's Larak Island in the Strait of Hormuz on Sunday, the first known U.S. military action against Iran since late July. Iranian media reported that Tehran responded with attacks on two U.S. air bases in Jordan. Germany's DAX fell 0.5% ahead of inflation data that could provide clues about the European Central Bank's rate path. Euro zone inflation and U.S. payrolls data are also due later this week. Bakkafrost dropped 7.1% after the Faroe Islands salmon farmer reported second-quarter results.

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