European Shares Decline After US Warning Over Hormuz

RTTNews | 151 days ago
European Shares Decline After US Warning Over Hormuz

(RTTNews) - European shares edged lower on Monday after weekend peace talks in Islamabad failed and the U.S. Navy moved to block maritime traffic to and from Iran through the Strait of Hormuz.

Rising tensions pushed Brent crude prices above $102 a barrel, re-igniting inflation and interest-rate concerns.

The pan European Stoxx 600 dropped 0.8 percent to 610.08 after rising 0.4 percent on Friday.

The German DAX fell more than 1 percent, France's CAC 40 shed 1.1 percent and the U.K.'s FTSE 100 was down 0.4 percent.

Halma shares rose about 1 percent in London after the prominent player in the electronics and appliances sector acquired California-based Surgistar, a manufacturer of ophthalmic surgical instruments and devices, for $90 million.

Vistry Group tumbled 3.1 percent after the housebuilder appointed company insider Adam Daniels as its new chief executive.

Electricity and gas utility firm National Grid fell about 1 percent after releasing a pre-close update ahead of its full-year results.

Swiss industrial leader Georg Fischer gained 1.1 percent after signing a contract worth approximately CHF 100 million.

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