European Stocks Flat as Oil Prices Surge Amid US-Iran Tensions

The European stock market closed flat on Monday due to rising oil prices and renewed tensions between the US and Iran.

Oil prices surged after a series of tit-for-tat strikes between the two countries, causing concerns about inflation. This offset stronger-than-expected euro zone economic data.

In Dublin, the Irish index fell almost 1% on Monday, with market heavyweights like Glanbia and Kerry Group dipping lower. Shares in Ryanair also fell by 2.4%.

The higher oil prices fueled inflation concerns, triggering a global bond sell-off last week and strengthening the case for further policy tightening. The European Central Bank (ECB) is expected to raise rates on Thursday.