Brent crude hit $79 as European stocks slipped after new US-Iran strikes threatened Hormuz shipping. Energy shares rose but construction and travel saw losses.
Alpha Score of 57 reflects moderate overall profile with strong momentum, weak value, moderate quality, moderate sentiment.
(Bloomberg) – European stocks opened lower Monday after the US and Iran traded fresh strikes overnight, pushing Brent crude to $79 a barrel and reviving inflation fears that had eased in recent weeks.
The Stoxx Europe 600 Index fell 0.2% by 8:28 a.m. in London. Construction and travel & leisure shares led the decline. Energy stocks rose as Brent climbed 3.7% to $79, its highest since early April.
US Central Command said American forces had carried out a new round of strikes in the Strait of Hormuz, designed to degrade Tehran's ability to attack shipping in the waterway. Washington and Tehran have issued conflicting declarations on whether the strait remains open to commercial vessels.
Last week, the Stoxx 600 snapped a four-week winning streak on concerns that the escalation would push up energy costs and stoke inflation. Second-quarter earnings season begins in earnest this week, with Burberry Group Plc and Richemont SA among the reporters.
Joachim Klement, head of strategy at Panmure Liberum, expects a week of volatile sideways moves before the rally can accelerate.
Citigroup Inc. strategist Beata Manthey remains neutral on European stocks excluding the UK. She sees the region as an attractive diversifier against AI-driven volatility in US tech. She downgraded UK equities to underweight from overweight, calling them "less appealing in an environment where earnings growth and market leadership are broadening."
The C stock page now carries an Alpha Score of 55, labeled Mixed, in the Financials sector.
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