"European Stocks" US-Iran ceasefire agreement faces challenges, pan-European STOXX 600 index falls nearly 1%

The market is concerned about the escalation of tensions between the U.S. and Iran over the weekend, which may undermine the ceasefire agreement between the two countries. European stock markets closed lower on Monday. The pan-European STOXX 600 index fell by 0.8%. All major exchanges and regional sectors closed lower, except for the oil and gas sector.

Aviation stocks were hit hard, with Deutsche Lufthansa AG and easyJet both falling by about 3%.

Deutsche Bank officially rejected the hostile takeover bid from UniCredit, with the former's stock rising by 1% and the latter's falling by 3%.

The UK FTSE 100 index closed down 58 points or 0.6% at 10,609 points. The German DAX index closed down 284 points or 1.2% at 24,417 points. The French CAC 40 index closed down 94 points or 1.1% at 8,331 points