Why did European shares dip on Monday, and what key event triggered renewed inflation concerns?

European shares dipped on Monday because rising oil prices—driven by fresh U.S.-Iran tit-for-tat strikes on vessels in the Strait of Hormuz and other areas—stoked inflation concerns and reinforced expectations that the European Central Bank (ECB) could raise interest rates later that week. The pan-European STOXX 600 fell 0.1% to 649.17 points by 0711 GMT, while energy stocks rose 1.2% as Brent crude futures gained over $1 a barrel amid fears of prolonged supply disruption.

What caused Novartis' stock to fall sharply, and how significant was the decline?

Novartis' stock fell sharply—3.3%—because its experimental drug pelacarsen missed a key goal in a late-stage trial. This decline contributed to the broader weakness in the Swiss main index (.SSMI), which dropped 1.2% overall.

European Shares Dip as Oil Prices Rise; Novartis Slips

Sep 7, 2026

European markets declined amid inflation fears from rising oil prices linked to U.S.-Iran tensions. Novartis shares fell after its experimental drug pelacarsen missed a key late-stage trial goal.

reuters

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