European stock markets closed lower on Monday, amid fears of escalating tensions between the US and Iran. The Stoxx 600 index fell by 0.9%

European stock markets closed lower on Monday, amid fears that tensions between the United States and Iran could affect the fragile truce between the two countries. The pan-European Stoxx 600 index recorded a decline of 0.9%, with most markets and sectors in the red, except for energy companies. U.S. President Donald Trump announced that a U.S. Navy destroyer attacked an Iranian cargo ship, escalating the naval blockade imposed by the U.S. Iran reacted, considering the blockade a violation of the truce, which led to the cancellation of planned negotiations. The tensions have affected the tourism and air transport sector in Europe, with significant declines for airlines. In contrast, companies in the oil and gas sector recorded gains, and the price of Brent oil rose to $95.20 per barrel. UniCredit shares fell by 2.5% following the CEO's announcement regarding a possible alliance with Commerzbank, whose shares rose by 1.8%. Markets in the Asia-Pacific region had a positive performance the previous night.