European Market Summary: Oil and Gas Stocks Rise on US-Iran Tensions

GeopoliticsCommodity Impact 4
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Summary · why it matters

European equity markets edged lower. Weighed down by military exchanges between the US and Iran, the STOXX Europe 600 Oil and Gas index rose 2.22 percent, buoyed by higher crude futures. Meanwhile, the aerospace and defence index fell 1.37 percent, with Norwegian defence major Kongsberg down 6.8 percent. The travel and leisure index lost 1.22 percent, as Germany's Lufthansa dropped 4.1 percent, Ryanair 2.2 percent, and TUI 1.1 percent. In London, the FTSE 100 was nearly flat, while the mid-cap FTSE 250 index added 0.11 percent. The oil and gas index gained 3.02 percent, but the precious metals index slid 2.35 percent. In eurozone bond markets, crude prices climbed after Iran announced a renewed blockade of the Strait of Hormuz, pushing the German 10-year yield up 3.8 basis points to 3.0726 percent.

Impact on stocks 4

Industrials▼ · 2 stocks
Deutsche Lufthansa AG
LHA
▼ NegativeGeopoliticsrelevance

Lufthansa dropped 4.1% as travel and leisure index fell 1.22% amid US-Iran tensions and Strait of Hormuz blockade.

Defense & Geopolitical Fragmentation▼ · 1 stocks
Kongsberg Gruppen ASA
0F08
▼ NegativeGeopoliticsrelevance

Kongsberg is a defence major; the article states the aerospace and defence index fell 1.37% and Kongsberg dropped 6.8% due to US-Iran tensions.

Consumer Discretionary▼ · 1 stocks
TUI AG
TUI1
▼ NegativeGeopoliticsrelevance

TUI dropped 1.1% as travel and leisure index fell 1.22% due to US-Iran tensions and Strait of Hormuz blockade.

Theme Impact 2

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