European Shares Subdued With German Inflation Data In Focus

(RTTNews) - European stocks were subdued on Monday amid escalating tensions between Washington and Tehran around the Strait of Hormuz.

The Iranian Army launched dozens of destructive drones at the locations of U.S. helicopters and forces stationed at the AI Minhad airbase in the United Arab Emirates in retaliation for the martyrdom of the personnel of the Islamic Revolution Guards Corps and innocent Iranian compatriots on Larak Island.

The pan-European STOXX 600 slipped 0.1 percent to 654.48 but was on track for a fifth straight monthly gain.

The German DAX fell 0.7 percent after preliminary data showed inflation rose in four key German states in August.

France's CAC 40 was marginally higher, while London markets were closed for a bank holiday.

TotalEnergies rallied 1.2 percent as oil prices traded nearly 2 percent higher on fears of supply disruptions through the Strait of Hormuz.

Bakkafrost plunged 6.3 percent after the salmon farmer missed analyst forecasts on both Q2 earnings and revenue.