European stocks slip as Iran‑US tensions lift oil prices

European equity markets fell on Monday amid renewed hostilities between the United States and Iran, which pushed oil prices sharply higher. The pan‑European STOXX 600 slipped around 0.1 % to roughly 641 points, while Germany's DAX, France's CAC 40 and the UK’s FTSE 100 each edged lower or finished flat. Brent crude rose to about $80‑$85 a barrel after Iran announced the closure of the Strait of Hormuz and President Trump said the United States would keep the waterway open for a fee, prompting energy shares such as BP, Shell and TotalEnergies to gain 2‑5 %.

Chip‑equipment maker ASML lifted its stock after raising its 2026 financial outlook, offsetting some weakness in other technology names. UK housebuilders and recruitment firms posted modest gains, but overall investor sentiment remained cautious as the geopolitical risk persisted.