European stocks slip again as yields rise and crude edges higher
European equities fall further on Tuesday, with Stoxx 50 and Stoxx 600 slipping around 0.3%, while government bond yields rise and Brent crude climbs toward $91 a barrel.
European stocks moved lower on Tuesday, with both the Stoxx 50 and Stoxx 600 slipping around 0.3% as markets pulled back further from recent record highs.
Sentiment weakened after the US-Iran ceasefire expired and Tehran signaled a tougher military stance, raising concerns about renewed instability in the Middle East.
Brent crude climbed toward $91 a barrel, increasing fears that higher energy costs could reignite inflation, while rising government bond yields added further pressure on equities.
Basic resources stocks declined alongside weaker gold prices, whereas energy shares benefited from the rise in crude.
Among major companies, ASML fell about 1.5% and Siemens lost 0.9%.
In the UK, unemployment remained at 4.9% in the three months through June, slightly above expectations, while payroll employment increased by 83,000, below forecasts.
Average weekly earnings rose 4.1% year-on-year.
Investors now await ZEW sentiment surveys from Germany and the Euro Area.