European Shares Mixed Amid Hormuz Reopening Uncertainty
(RTTNews) - European stocks were mixed on Monday as uncertainty over the reopening of the Strait of Hormuz lingered and investors looked forward to the release of U.S. inflation readings later in the week for additional clues on the Fed's rate trajectory.
Iran has warned that it will not reopen the Strait of Hormuz unless the United States meets a series of conditions, raising worries that U.S. President Donald Trump may relaunch the military option that he shelved only days ago.
However, in an interview with Axios on Sunday, Trump signaled patience and suggested that he's prepared to allow economic pressure on Iran to mount rather than escalate militarily.
The pan-European STOXX 600 was marginally lower at 660.02 after rising 0.3 percent on Friday, marking a fourth consecutive record close.
The German DAX edged up by 0.1 percent, while France's CAC 40 and the U.K.'s FTSE 100 both fell around 0.2 percent.
In corporate news, shares of trading platform Plus500 soared 6.6 percent in London after the company posted record first-half results.
Building products maker Marshalls fell 2.4 percent after reporting a marginal decline in first-half revenue.
Aryzta, the Swiss-Irish baked goods group, slumped more than 12 percent after reporting lower first-half profit and revenue.
In economic releases, U.K. permanent staff appointments stabilized in July, ending a 45-month downturn, the KPMG/REC Report on Jobs revealed. Temp billing posted the biggest growth in the last three years as more employers sought flexible workforce solutions.
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