BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were broadly lower on Tuesday amid rising U.S.-Iran tensions. Brent crude futures climbed above $91 a barrel while Euro zone long-dated bond yields hit multi-year highs as U.S. President Donald Trump ruled out extending a temporary ceasefire agreement with Iran and Tehran said it is preparing to shift to a 'fully offensive' military posture.
A cargo vessel was struck by a projectile while transiting the Strait of Hormuz, the UKMTO said today, deepening concerns over shipping safety.
In economic releases, the U.K. unemployment rate stood at 4.9 percent in the June quarter, unchanged from the preceding period, the Office for National Statistics said. The number of vacancies decreased 6,000 to 707,000 in the three months to July.
The U.S. dollar edged up slightly but held near multi-month lows against its major peers ahead of a slew of data, including reports on U.S. import/export prices, housing starts, industrial production and pending home sales later in the day.
The pan-European STOXX 600 dropped half a percent to 652.98 after declining 0.2 percent on Monday.
The German DAX dipped 0.4 percent, France's CAC 40 slipped 0.6 percent and the U.K.'s FTSE 100 was marginally lower.
In corporate news, Basilea Pharmaceutica shares soared 7 percent. The Swiss biopharma company raised its 2026 profit outlook after reporting a 77 percent year-on-year jump in first-half net profit.
HgCapital Trust fell about 1 percent. The British investment trust announced that it would invest around 20 million pounds through its manager Hg in Nourish Care, a nutritional diet consulting platform.
Mining giant BHP was modestly higher after reporting a 9 percent increase in annual net profit.
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