European markets rise as oil falls amid Middle East tensions
European markets kicked off Thursday on a positive note, with lower oil prices giving stocks a boost.
The STOXX 600 index edged up 0.2%, but overall gains were held back by ongoing supply issues near the Strait of Hormuz and stalled U.S.-Iran talks.
Meanwhile, the U.K.'s FTSE 100 slipped 0.3%, even though June's economic growth numbers were better than expected.
Travel stocks, banks and Maersk advance
Cheaper oil helped travel and leisure stocks rise by 0.6%, while banks were among the strongest performers with a 0.9% jump.
Maersk, the Danish shipping group, surged 8.3% after strong earnings and raising its annual outlook thanks to strong demand and higher freight rates.
Investors cautious over oil and inflation
Even with these wins, investors are keeping an eye on energy prices and inflation, especially as tensions in the Middle East continue to stir uncertainty.
The STOXX 600 rose 0.2% to 660.49 points, but worries about rising oil costs from Middle East conflicts are keeping everyone cautious.