BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were sharply lower on Monday amid renewed tensons between the United States and Iran.
Tensions between the countries entered a new phase after the U.S. seized an Iranian vessel and Iran said it would not send a negotiating delegation for peace talks.
The Strait of Hormuz remains closed, reviving inflation and interest-rate fears.
Meanwhile, Germany's producer prices declined at the slowest pace in a year in March amid energy price fluctuations caused by the war in the Middle East, according to data from Destatis released earlier today.
Producer prices logged an annual fall of 0.2 percent in March, following a 3.3 percent decrease seen in February. Moreover, this was the slowest decrease since March 2025, when prices dropped the same 0.2 percent.
On a monthly basis, producer prices showed a renewed increase of 2.5 percent versus a 0.5 percent decline in February. The expected rise was 1.4 percent.
The pan European Stoxx 600 fell 1.1 percent to 619.54 after rallying 1.6 percent on Friday.
The German DAX tumbled 1.6 percent, France's CAC 40 shed 1.1 percent and the U.K.'s FTSE 100 was down 0.6 percent.
Airline stocks slumped as Brent crude prices jumped more than 6 percent on concerns over the potential for prolonged disruption in global energy markets. easyJet, Lufthansa and Wizz Air Holdings lost 3-5 percent.
Schneider Electric shares fell 2 percent. The French energy technology company has partnered with professional services firm Deloitte to help organizations accelerate digital transformation and modernize operations.
Freenet, a German network independent telecommunications provider, dropped 1 percent after placing a promissory note loan with a total volume of 350 million euros.
Conglomerate Siemens declined 2.3 percent after launching the AI Engineering Agent for automation engineering.
Italian lender UniCredit lost 2.2 percent after it revealed plans for Commerzbank's transformation. Shares of the latter were up 1 percent.
British engineering firm Renishaw soared 7 percent after lifting its full-year revenue and profit forecasts.
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