European stock markets fell on Monday afternoon, with the market focusing on reports that Tehran would not participate in peace talks with Washington, and both Iran and the United States indicated that the Strait of Hormuz is essentially closed to shipping.

The pan-European Stoxx Europe 600 index fell 1.1% in the afternoon.

Brent crude oil futures rose 5.4%, trading at US$95.29 per barrel.

Mainland oil stocks led the gains, while bank and technology stocks declined.

Investors also noted that Wall Street futures were weak, and Asian stock markets closed generally higher overnight.

In terms of economic data, Germany's producer price index for March fell 0.2% year-on-year but rose 2.5% month-on-month, with authorities attributing the monthly increase to rising energy prices.

The Stoxx Europe 600 technology index fell 1.5%, and the Stoxx 600 banking index fell 1.9%.

The Stoxx Europe 600 oil and gas index rose 1.6%, while the Stoxx 600 European food and beverage index fell 1.3%.

The European REIT index REITE fell 1.4%.

In terms of national indices, Germany's DAX fell 1.4%, London's FTSE 100 fell 0.7%; Paris's CAC 40 fell 1.2%, and Spain's IBEX 35 fell 1.3%.

The yield on Germany's 10-year benchmark government bonds rose to about 3%.

The Euro Stoxx 50 volatility index rose 15%, to 22.43, reflecting that the volatility of European stock markets over the next 30 days is above average.

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