European shares decline amid oil rise

European stocks experienced a slight decline due to rising oil prices and escalating geopolitical tensions in the Middle East. U.S. strikes on Iran and increasing risks in the Strait of Hormuz pushed Brent crude oil above $90 a barrel for the first time in a month. The Stoxx 600 index fell by 0.2% to close at 640.45 points. Energy stocks rose by 1.4% amid the oil price increase, while the travel sector declined by 4.6%, led by Ryanair after its profits dropped by 34%. The technology sector remained stable with a modest gain of 0.4%, as investors awaited earnings reports from major tech firms. Meanwhile, investors are also closely watching the European Central Bank meeting, expecting interest rates to remain steady amid concerns that tensions could impact input costs and demand requirements.

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