European Stocks Mixed As Iran Tensions Cloud Markets

(RTTNews) - European stocks closed mixed on Monday after a choppy session as a lack of positive progress in U.S.-Iran talks and uncertainty over the reopening of the Strait of Hormuz rendered the mood cautious. Investors also looked ahead to the crucial U.S. inflation data this week for clues about the Federal Reserve's interest rate stance.

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.

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 edged up 0.03%. Germany's DAX and France's CAC 40 closed up by 0.02% and 0.13%, while the UK's FTSE 100 settled lower by 0.35%. Switzerland's SMI moved up 0.61%.

Among other markets in Europe, Belgium, Czech Republic, Denmark, Finland, Greece, Ireland, Portugal and Sweden ended weak.

Netherlands, Norway, Poland and Türkiye closed higher, while Austria, Iceland, Russia and Spain ended flat.

In the UK market, miners Fresnillo and Glencore moved up 3.5% and 2.1%, respectively. Antofagasta gained nearly 1%, while Endeavour Mining closed 0.7% up.

Energy stocks BP and Shell gained about 1.5% and 0.7%, respectively.