European stock indices declined at the start of the week's trading, as investors reacted to the latest developments in the US-Iran trade war and its repercussions for the Middle East.
In terms of trading, the Stoxx 600 index fell by about 0.6%, recording 603 points.
France's CAC fell 1% to 7,869 points, Germany's DAX dropped by about 0.3% to 23,568 points, and Britain's FTSE slipped by less than 0.1% to 10,194 points.
In contrast, energy sector stocks rose by about 0.7%, amid rising oil prices, while media sector stocks climbed 0.3%, while all other European sectors traded in the red.
The decline in European indices came after a similar drop in Asian markets following the US president's warning to Iran that it must act quickly to finalize a peace agreement.
Iranian Foreign Ministry Spokesperson:
Tehran is in constant contact with the Sultanate of Oman and all relevant parties to discuss the Strait of Hormuz mechanism.
Iranian and Omani technical teams met last week in Oman to negotiate a mechanism to ensure safe passage through the Strait of Hormuz.
Iran and the US have sent their comments on the latest proposal…
On the corporate front, Ryanair revealed its first-quarter results for this year, with pre-tax profits increasing by 40% to around €2.3 billion ($2.7 billion), while passenger traffic grew by 4% to 208.4 million.
In contrast, revenues fell by 11% to 15.54 billion euros.
