European stocks pressured by inflation and oil
European stocks slightly declined due to rising oil prices, which surpassed $90 a barrel amid the failure of the US-Iran talks regarding the Middle East, increasing global inflation worries. This led to a 0.9% rise in energy stocks and a 0.7% decline in travel and leisure sectors. The Stoxx 600 index also dropped by 0.12%, marking its seventh consecutive day of decline. Oil prices remain driven by geopolitical tensions and rising energy costs, reflecting market concerns over a potential wave of future inflation.
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