Why did European shares slip on Monday, and what immediate market impact did the US-Iran tensions have?

European shares slipped on Monday because escalating hostilities between the United States and Iran prompted Tehran to close the Strait of Hormuz, rattling investors; as a result, the pan-European STOXX 600 index fell 0.3% to 639.29 by 0702 GMT, following its sharpest weekly loss since late-April on Friday.

How did the closure of the Strait of Hormuz affect oil prices and energy stocks in Europe?

The closure of the Strait of Hormuz caused oil prices to rise over 4%, which in turn boosted energy stocks on the STOXX 600 by 1.6%.

European Shares Slip on Renewed US-Iran Tensions

Jul 13, 2026

European shares declined amid US-Iran tensions threatening the Strait of Hormuz, driving oil prices up 4%. Additionally, chemical firm AkzoNobel gained 3% after receiving a €7.5 billion takeover offer from Nippon Paint.

reuters

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Nippon Paint, Sherwin-Williams Abandon Acquisition of AkzoNobel

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Nippon Paint offers $8.6 billion for Akzo Nobel unit, Bloomberg News reports

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European Shares Slip on Renewed US-Iran Tensions

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AkzoNobel Rejects €7.5 Billion Offer from Nippon Paint for Decorative Paints Business