Oil, Middle East Outlooks Undercut European Bourses Midday
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European bourses fell midday as crude prices rose following the US and Iran ruling out a peace deal. Brent crude futures increased by 3.1% to $107.45 a barrel. Food and oil stocks saw modest gains, while banks, tech, and property shares lagged. Germany's economic sentiment index improved slightly to -10.2 in May. The Stoxx Europe 600 Index was down 0.7%, with notable declines in technology and banking sectors. The Euro Stoxx 50 volatility index rose 3.9%, indicating increased market volatility ahead.
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