European stock markets decline amid geopolitical risks and ECB policy expectations

European stock markets closed lower due to geopolitical uncertainties and expectations that the European Central Bank (ECB) will maintain a tight monetary policy. The Stoxx Europe 600 index fell 0.44% to 639.92 points, with losses particularly notable in the insurance and automotive sectors. Major indices also declined, including Germany’s DAX 40 by 0.66%, France’s CAC 40 by 0.39%, Italy’s FTSE MIB by 0.21%, and the UK’s FTSE 100 by 0.03%.

Despite the market downturn, the Eurozone's private sector activity accelerated in September, with the Composite Purchasing Managers' Index (PMI) reaching 53.1, its highest level in 41 months. Meanwhile, the Euro/Dollar parity saw a decrease of 0.46% to 1.139.

In aviation news, Ryanair CEO Michael O’Leary warned that high oil prices and insufficient refinery capacity could drive jet fuel costs to 40% above crude oil prices. He projected that European flight ticket prices could rise by 10% to 20% next summer and cautioned that some airlines might face bankruptcy this winter due to rising fuel costs.