US-Iran Tensions Spark European Stock Plateau
European stocks experienced a lackluster start to the week, as tensions between the US and Iran continued to escalate. The pan-European STOXX 600 index was flat at around 655 points by 0712 GMT after a weaker opening, with London markets closed for a bank holiday.
The energy sector led the gains, with stocks rising 0.6% in response to a more than 2% jump in Brent crude prices, which traded around $90.70 a barrel. This increase was triggered by US military strikes against two missile launchers on Iran's Larak Island in the Strait of Hormuz.
Germany's DAX index fell 0.5% ahead of inflation data from the euro zone's largest economy, which could provide insight into the European Central Bank's rate path. The week ahead will also bring key releases, including euro zone inflation figures and US payrolls data.