Strait of Hormuz Tensions Push Oil Above $90

The pan-European STOXX 600 index plateaued at 641.65 in early trading, reflecting a broader investor hesitation. Energy stocks climbed 0.9% on the back of rising oil prices, yet this modest gain was offset by a 0.9% retreat in the travel and leisure sector. Ryanair bore the brunt of this shift, with shares tumbling 5% after the airline disclosed a 34% drop in first-quarter profits, citing the dual burden of expensive fuel and softening ticket prices.

Tech stocks managed a marginal 0.2% gain, as the market looks toward imminent reports from U.S. technology giants to sustain the ongoing AI-led rally. Despite recent positive results from industry stalwarts ASML and TSMC, sentiment remains fragile. The current market inertia highlights a deepening divide: while energy firms benefit from the geopolitical volatility, the broader corporate landscape faces mounting pressure from inflation and rising operational costs.