European stocks slip as Middle-East flare up triggers oil uptick

European equities fell as renewed Middle East conflict pushed investors out of risk assets and lifted oil prices sharply. The STOXX 600 slipped 0.2%, with Germany’s DAX down 0.3% and France’s CAC 40 off 0.2%, while the FTSE 100 edged up 0.2%. The main catalyst was Iran’s announcement that the Strait of Hormuz was closed “until further notice,” raising fears over a route that carries about a fifth of global seaborne oil. Brent and WTI both jumped more than 4.4%, benefiting oil majors such as Shell, BP and TotalEnergies. The article also notes that European Central Bank remarks from Isabel Schnabel later in the day could influence rate expectations. Individual stock action was driven by corporate news, with Akzo Nobel rising after Nippon Paint made an offer for its decorative paints business. Overall, the market tone turned defensive, with energy outperforming and broader European indexes under pressure.