LIVE MARKETS-STOXX at 3-week low, oil stocks top gainers in June
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STOXX AT 3-WEEK LOW, OIL STOCKS TOP GAINERS IN JUNE
Concerns over a possible escalation of the conflict between Israel and Iran kept traders on edge on Tuesday, driving risk assets lower while pushing crude oil prices higher.
As a result, European shares joined a global equity sell-off, with the region-wide STOXX 600 .STOXX index as much as 1% to its lowest level in over three weeks. A gauge of euro zone equity volatility .V2TX climbed back above 22 points.
All sectors but one - oil & gas .SXEP, which continued to rise and was last up 0.9% - were in the red. Top decliners included this year's star performers, such as banks .SX7P and industrials .SXNP. Even defense .SXPARO came under pressure.
Among energy stocks, Galp GALP.LS, TotalEnergies TTEF.PA, BP BP.L, Repsol REP.MC, Shell SHEL.L, and Eni ENI.MI all rose between 1% and 3%. The sector is now this month's standout performer with a surge of almost 7%.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPEAN FUTURES FALL, RENEWABLES EYED CLICK HERE
ISRAEL-IRAN TRUCE HOPE IN TATTERS CLICK HERE
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