STOXX 600 snaps losing streak as oil prices pull back
European shares snapped a three-day losing streak as oil prices eased on Monday. Markets are shifting focus to central bank meetings for inflation guidance.
European markets recovered from earlier losses on Monday, buoyed by a retreat in crude oil prices that provided a reprieve for investors concerned about geopolitical tensions in the Middle East. The pan-European STOXX 600 index finished the session 0.45% higher, reversing an initial decline of the same magnitude and snapping a three-day downward trend. Gains were particularly strong in the real estate and energy sectors, which climbed 1.48% and 1.2% respectively. Market sentiment has been closely tied to energy costs following military actions involving the United States and Israel against Iran over the past fortnight. However, prices moderated on Monday amid optimism regarding maritime traffic through the Strait of Hormuz.
