Europe stocks pause near record as oil rises for 4th day
What's new: Energy shares climbed 1.3% as Strait of Hormuz uncertainty kept crude elevated ahead of US CPI and euro zone jobs data.
European stocks held near a record high on Monday as investors paused before a heavy week of economic data, while higher oil prices supported energy shares. The pan-European Stoxx 600 was little changed at 660.45, after closing at an all-time high on Friday. Energy stocks rose 1.3% as crude gained for a fourth straight session amid uncertainty over the Strait of Hormuz. Iran set conditions for reopening the waterway and signaled it was close to an agreement with Oman on new shipping lanes. Telecom stocks fell 2.1%, with Deutsche Telekom and Vodafone both down more than 3%, while media shares slipped 1.6%. Investors are now watching euro zone employment figures and US consumer price data for clues on interest rates.