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08.10.202607:33:24UTC+00European Stocks Down

European stocks fell on Thursday, with the STOXX 50 down 1.2% and the STOXX 600 off 0.9%. Sentiment was hit by a sharp rise in oil prices amid mounting tensions in the Middle East, after reports that the White House had asked the Pentagon to prepare strike options against Iran that could be implemented before the midterm elections. Higher oil prices pushed bond yields up again, adding to the pressure on equities.

Basic resources led the declines, while banks and healthcare stocks also came under selling pressure. In contrast, oil and gas shares advanced. Among the largest constituents, ASML (-1.6%), HSBC (-2%), Novartis (-1.1%), LVMH (-1%), Siemens (-1.9%) and L'Oréal (-1%) all finished lower, whereas Shell (+1.1%) and TotalEnergies (+1.1%) posted gains.

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