European shares subdued as surging crude sharpens focus on ECB rate path
The ECB is widely expected to raise rates by 25 basis points on Thursday
European stocks remained relatively static on Monday (Sep 7) as rising oil prices following renewed US-Iran tensions heightened inflation concerns, despite stronger-than-anticipated economic data from the Eurozone. The pan-European Stoxx 600 closed at 649.9 points, while Switzerland's main index fell 0.8 percent. Novartis saw a 3.2 percent decline following a failed study on its cholesterol drug.
Germany's DAX also slipped 0.2 percent. In the aftermath of the AfD's victory in Saxony-Anhalt, with 44 percent of the vote, Germany's Chancellor Friedrich Merz faced a potential government crisis. The AfD's rise has prompted concerns among investors, who view the political shift as more of a warning sign than an immediate economic threat.
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