Eurozone: European Stocks Inch Marginally Lower.

Pan-European stock indices closed marginally lower on Monday as the escalation to the war in the Middle East continued to cloud the macroeconomic backdrop for energy importers. The Euro STOXX 50 inched 0.1% down to 6,264 and the STOXX Europe 600 inched 0.1% down to 641. Sovereign yields rose together with energy prices after the US and Iran threatened to restore blockades on vessels leaving the Strait of Hormuz. Banks dropped from the tighter credit conditions, with Santander and Deutsche Bank down more than 1% each. Also, ASML lost 1.8% and Infineon dropped close to 3%, tracking losses for US and Asian counterparts after brokers noted that SK Hynix may miss its earnings guidance. In turn, the traction in oil prices aided energy producers with TotalEnergies and ENI gaining 3% and 4%, respectively.