European stock markets opened lower, worried that a US-Iran conflict would push oil prices above $90. Attention is also focused on earnings reports from major tech companies and the ECB meeting.

European stock markets opened lower, amid concerns over the US-Iran conflict, which pushed Brent crude oil prices above $90/barrel and increased inflation worries. Investors are also watching for earnings reports from major tech companies and the ECB meeting.

July 20, 2569 at 14.16:XNUMX a.m., Reuters reported that European stock markets closed slightly lower on Monday morning (July 20). Amid concerns that escalating tensions between the U.S. and Iran could push oil prices higher and increase inflationary pressure, investors are awaiting earnings reports from major U.S. technology companies and a European Central Bank (ECB) meeting this week.

STOXX 600 Index The index fell 0.2% to 640.45 points at 07:03 GMT. Ryanair shares plummeted 4.6%, the biggest drop in the STOXX 600, after the major European low-cost airline reported a 34% drop in first-quarter profits due to rising fuel costs and weaker fares.

Conversely, technology stocks rose 0.4% ahead of earnings announcements from major US tech companies, which investors are watching closely as they could provide a new impetus to AI stock investments. However, last week's strong business outlook from ASML and outstanding earnings from TSMC were not enough to significantly boost the market.

The situation in the Middle East remains a major factor pressuring markets, following the ninth consecutive day of US attacks on Iran. Reports indicate that some oil tankers are unable to pass through the Strait of Hormuz, causing Brent crude oil prices to surge above $90 per barrel for the first time in a month.

While rising oil prices boosted energy stocks by 1.4%, they pressured tourism and leisure stocks to fall by 1.3%.

Investors are also watching the European Central Bank (ECB) meeting later this week. Most markets expect the ECB to keep its policy interest rates unchanged amid geopolitical uncertainty and persistently high inflation.

refer : www.reuters.com

Read news related to both Thai and international stock markets here.