FX.co ★ European Stocks Subdued

European equities started the week on a cautious footing, with the STOXX 50 hovering near unchanged levels and the STOXX 600 edging 0.2% lower. Investors returned from the weekend facing renewed upward pressure on oil prices as the conflict in the Middle East further intensified. The US carried out a ninth consecutive day of strikes against Iran, which in turn launched attacks on targets across the region. At the same time, shipping traffic through the Strait of Hormuz remained heavily disrupted. Markets are also bracing for a busy stretch of corporate results. Ryanair shares declined about 3% after the airline reported a 34% drop in profit.