European stocks decline as Middle East tensions rise
The STOXX 600 fell 0.1% as Mideast tensions lifted oil prices. Inditex gained 5% on strong summer trading while airline and auto shares weighed on the market.
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The STOXX 600 fell 0.1% to 624.32 points Wednesday morning as escalating Middle East hostilities pressured regional sentiment. Gains in the retail sector, led by a 5% jump in Spain-based Inditex, failed to offset broader market declines. Rising energy costs threaten to erode profit margins for transport and manufacturing sectors.
