European markets closed mixed

Frankfurt — The major European markets ended little changed on Monday as investors made cautious moves as oil prices climbed higher, fuelling concerns about inflation and interest rates.

Oil prices climbed higher after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz and signalled possible new military strikes after the midterm elections.

Iran’s Foreign Minister Abbas Araghchi expressed hopes for a diplomatic solution, but warned the country is prepared for war with the United States to resume.

Brent Crude front-month futures climbed to $108.83 a barrel, up from previous close of $104.32, before paring gains.

The pan-European Stoxx 600 ended flat. The UK’s FTSE 100 and Germany’s DAX edged down 0.1% and 0.13%, respectively. France’s CAC 40 crept up 0.01%. Switzerland’s SMI ended 0.02% down.

European markets closed mixed

Other markets in Europe closed mixed. Austria, Greece, Ireland, the Netherlands and Norway ended higher.

Belgium, Finland, Iceland, Russia, Spain, Sweden and Turkey closed weak, while the Czech Republic, Denmark, Poland and Portugal ended flat.

In the UK market, shares of homebuilders skyrocketed after the UK government said it would unveil a schemed to help first-time home buyers in the upcoming budget. Barratt Redrow soared nearly 12%. Taylor Wimpey zoomed 11.5% and Persimmon jumped nearly 15%.,

Howden Joinery Group moved up by a little over 3%. Airtel Africa and JD Sports Fashion gained 2.35% and 2.2%, respectively. Intercontinental Hotels Group, Kingfisher, Spirax Group, Convatec Group, Shell, Tesco, British American Tobacco, Coca-Cola Europacific Partners, BP and Games Workshop also ended notably higher.

Miners shed ground as metal prices fell. Fresnillo and Endeavour Mining lost 5.1% and 4.4%, respectively. Antofagasta, Anglo-American Plc and Glencore shed 1.7%-2%, which Rio Tinto closed modestly lower.

Experian closed down 3.6%. Pershing Square Holdings, Polar Capital Technology Trust, The Sage Group, Coca-Cola HBC and Relx also ended notably lower.

European markets closed mixed

Ladbrokes owner Entain dropped 5% after cutting its revenue outlook following Brazil’s executive-order ban on line sports betting and gaming.

West Africa-focused oil and gas explorer Tullow Oil tumbled more than 3% after widening its first-half net loss due to higher refinancing costs. The stock recovered some ground subsequently and was down by about 1.4% at close.

In the German market, Porsche Automobil Holding, Deutsche Telekom, Siemens Energy, Volkswagen, Rheinmetall, Scout24, Zalando, SAP and BMW closed down by 1%-2%.

Merck climbed more than 2.5%. Siemens Healthineers moved up 2.3%, while Fresenius Medical Care, Bayer and Daimler Truck Holding gained about 1.7%, 1.6% and 1.1%, respectively.

Shares of sugar producer Südzucker soared nearly 8% before paring gains and settling down with a gain of about 3.2%. The stock rose after the company raised its revenue and operating core earnings forecasts for the 2026/27 financial year, citing rising demand for biofuels.

In the French market, Edenred, Hermes International, Kering, Carrefour, Eurofins Scientific, STMicroelectronics and EssilorLuxottica gained 1.5%-2.5%.