BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell on Monday as growth worries resurfaced again after oil prices rose sharply following the U.S. beginning to block ships from entering or exiting the Strait of Hormuz, aiming to pressure Iran to reopen the key oil route.
The move by the Trump administration comes after peace talks between the U.S. and Iran over the weekend ended without a solution to the ongoing conflict in the Middle East.
The U.S. President had posted on Truth Social on Sunday that the US navy 'will begin the process of Blockading any and all ships trying to enter, or leave, the Strait of Hormuz.' He added: 'Iran will not be allowed to profit off this Illegal Act of EXTORTION.'
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 U.K.'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, Czech Repblic, Denmark, Greece, Iceland, Ireland, Portugal, Spain, Sweden and Türkiye closed weak.
Finland, Netherlands and Russia ended higher, while Poland closed little changed from previous close.
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, Muich RE and Mercedes-Benz posted moderate gains.
In the French market, Danone, Stellantis, Veolia Environment, Kering, Orange, Societe Generale, 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%.
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