European Shares Edge Lower Amid Inflation Concerns
(RTTNews) - European stocks were subdued on Tuesday even as energy shares surged after U.S. President Donald Trump said he has instructed American representatives to firmly include compensation demands from Iran in any future negotiations, complicating efforts to reopen the crucial waterway.
Brent crude futures jumped nearly 3 percent toward $90 a barrel due to uncertainty over when the Strait of Hormuz may reopen.
The pan-European STOXX 600 slipped 0.1 percent to 659.76 after ending marginally higher on Monday.
The German DAX, France's CAC 40 and the U.K.'s FTSE 100 were down between 0.2 percent and 0.3 percent on inflation and interest-rate worries.
International Workplace Group shares tumbled 4 percent in London.
The British office-space provider reported a loss before tax of $20 million, compared with a profit before tax of $12 million in the prior year.
Holiday Inn owner InterContinental Hotels Group fell 1.4 percent after room revenue growth, a key measure of performance, slowed in the second quarter.
Spirax Group plummeted 10 percent. The thermal energy and fluid technology firm reiterated its guidance for mid-single-digit organic revenue growth and margin expansion for the full year after posting improved first-half results.
Energy stocks were moving higher, with BP Plc, Shell and TotalEnergies climbing 1-2 percent after a renewed uptick in crude oil prices.
German steelmaker Salzgitter dropped 1.3 percent after reporting lower first-half sales.
Indian Shares Tumble Amid Geopolitical Concerns
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Asian Markets Sink Amid Inflationary Risks
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Losing Streak May Continue For Thai Stock Market
Japanese Market Sharply Lower
Indonesia Stock Market Tipped To Open In The Red
