European Stocks End Monday with Mixed Results
The benchmark Stoxx Europe 600 index edged down 0.15%, closing at 621.73 points.
Among the session's notable decliners, Germany's DAX 40 shed 0.58% to settle at 24,616.22, while France's CAC 40 slipped 0.23% to finish at 8,199.29. On the other side of the ledger, the UK's FTSE 100 managed a modest gain of 0.05%, closing at 10,373.2, and Italy's FTSE MIB 30 outperformed with a 0.63% advance to 50,208.13. The euro/dollar exchange rate edged up 0.148% to 1.154 as of 1745 GMT.
Geopolitical turbulence in the Middle East continued to set the tone across global equity markets. Brent crude surged as high as $98 per barrel earlier in the session as fears of a fresh regional escalation gripped markets, before retreating to around $94 per barrel after Iran's Khatam al-Anbiya Central Headquarters — the command unit overseeing military operations — declared a halt to operations against Israel.
Persistently elevated energy costs continued to stoke global inflation anxieties, with market attention now firmly fixed on the European Central Bank's monetary policy decision due Thursday. The bank is broadly anticipated to lift its three key interest rates by 25 basis points at the meeting.
On the economic data front, factory orders in Germany fell in April at nearly twice the rate analysts had forecast, weighed down by softening demand and the uncertainty unleashed by the latest flare-up in the Middle East. In the broader euro area, however, a brighter signal emerged — investor confidence climbed for the second consecutive month in June.
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