European stocks closed weak

Brussels — European stocks fell on Monday as growth worries resurfaced on rising oil prices following the beginning of a US naval blockade in the Strait of Hormuz.

Brent crude futures soared to $103.87 a barrel, gaining nearly 9% before easing a bit to $101.50, still up by a sharp 6.5%.

The pan European Stoxx 600 ended down 0.16%. The United Kingdom’s FTSE 100 closed 0.17% down, while Germany’s DAX and France’s CAC 40 closed lower by 0.26% and 0.29%, respectively. Switzerland’s SMI finished with a loss of 0.28%.

Among other markets in Europe, Austria, Belgium, the Czech Republic, Denmark, Greece, Iceland, Ireland, Portugal, Spain, Sweden and Turkey closed weak. Finland, the Netherlands and Russia ended higher, while Poland closed little changed from the previous close.

European stocks closed weak

Metlen Energy & Metals, The Sage Group, 3i Group, LSEG, BAE Systems, Admiral Group, Pearson, Entain, Relx, Lion Finance, ICG, Shell, Experian, St. James’s Place and Games Workshop gained 1-3.2%.

In the German market, Deutsche Telekom tumbled more than 6%. Continental shed about 2.3%, while Deutsche Post, Brenntag, Volkswagen, Adidas, Symrise, Heidelberg Materials, Henkel and E.ON lost 1-2%. Rheinmetall gained nearly 3%. SAP moved up 2.3% and Bayer climbed 1.7%, while Merck, Deutsche Boerse, Qiagen, Munich RE and Mercedes-Benz posted moderate gains.

In the French market, Danone, Stellantis, Veolia Environment, Kering, Orange, Société Générale, EssilorLuxottica, Legrand and Safran lost 1-3%. Dassault Systemes climbed about 4.3%. Thales, Teleperformance, Capgemini, Publicis Groupe, TotalEnergies and Eurofins Scientific gained 1-2.5%.

In the UK market, United Utilities, Severn Trent, National Grid, Marks & Spencer, Fresnillo, Associated British Foods, Endeavour Mining, AstraZeneca, Convatec Group, Reckitt Benckiser, IAG, Coca-Cola HBC, Vodafone Group and Barclays lost 1-2.3%.