European shares slip as US strikes on Iran fuel Middle East escalation fears
European shares
fell on Monday after the U.S. decision to join Israel in striking Iran's nuclear facilities over the weekend heightened
investor fears
of an escalation in the
Middle East conflict
.
The pan-European STOXX 600 index was down 0.3% at 535.11 points, as of 07.12 GMT. Other major regional indexes also traded lower.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Dhoni's Exclusive Home Interior Choice?
HomeLane
Get Quote
Undo
Iran and Israel exchanged air and missile strikes on Monday, as global tensions rose over Tehran's expected response to a U.S. attack on its nuclear facilities over the weekend.
In a post to the Truth Social platform on Sunday, U.S. President Donald Trump questioned the possibility of regime change in Iran.
Markets fear that an Iranian retaliation may include a closure of the
Strait of Hormuz
, the world's most important oil artery.
Live Events
Bucking the sombre mood, the oil and gas sector led gains in the regional index, rising 0.7%, as
oil prices
jumped on fears of supply disruption following the weekend strike.
Travel and leisure stocks lost 0.8%.
Among stocks, Spectris rose 14.6% after private equity firm Advent said it will acquire the scientific instruments maker in a deal valued at 4.4 billion pounds ($5.91 billion).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
29 minutes ago
- Mint
Israel-Iran conflict threatens India's agri exports
NEW DELHI : The escalating conflict between Israel and Iran is clouding the outlook for India's agricultural exports, with experts warning of potential disruptions to trade routes, payments, and shipments, particularly via Iran's Bandar Abbas port, a key gateway for India to Afghanistan and Central Asia. Exporters are also calling for urgent action to scale up the Chabahar Port as a strategic alternative to safeguard India's regional trade links. 'Payment mechanisms—already constrained by US curbs—may tighten further, and heightened security risks in the Gulf could push up insurance premiums and delay shipments," said Ajay Srivastava, a former trade services official and co-founder of the economic think tank Global Trade Research Initiative (GTRI). Also Read: Mint Primer: Oil shock looms as Iran threatens to shut Strait of Hormuz. What it means for India 'Perishable goods like rice, bananas, and tea are particularly at risk," he added. India's exports to Iran stood at $1.24 billion in 2024-25, with basmati rice alone accounting for $753.2 million. Other major exports include bananas ($53.2 million), soybean meal ($70.6 million), bengal gram ($27.9 million), and tea ($25.5 million). However, the risk of a prolonged conflict could choke this trade pipeline. Hit on exports To be sure, Basmati rice exports have already taken a hit. Nearly 100,000 tonnes of basmati shipments bound for Iran are stranded at Indian ports, as exporters have put deliveries on hold amid growing uncertainty. Iran imports nearly one million tonnes of basmati rice from India annually, accounting for about 20% of India's total basmati exports, said Sushil Kumar Jain, vice president, All India Rice Exporters Association. Jain said payment dues of ₹1,500 crore to Indian exporters are stuck amid the ongoing conflict. 'If the conflict persists for a longer period, the exporters may face huge losses, which is difficult to quantify at the moment, but if it settles down in a few days, then we don't see major losses," he added. The conflict's ripple effects are also being felt in the sugar trade. While direct sugar exports to Iran are limited, India routes shipments to Afghanistan through Bandar Abbas due to its fraught trade relations with Pakistan. 'Operations at the port are currently stable, but any escalation could disrupt sugar movement to Afghanistan," said Deepak Ballani, director general, Indian Sugar and Bio-energy Manufacturers Association (ISMA). Also Read: US attack on Iranian nuclear sites roils oil market, India braces for possible price surge Other commodity markets are also on edge. For instance, edible oil prices have jumped $40-50 in just a week, due to supply chain strains and energy cost concerns, according to the Solvent Extractors' Association of India (SEA). Alternative route Meanwhile, rising tensions have prompted experts to underline the growing strategic urgency of scaling up the Chabahar port as India's alternative trade gateway to Afghanistan, Central Asia, and Eurasia. Bandar Abbas, Iran's largest commercial port located on the Strait of Hormuz, is of significant strategic and economic value not just for Iran but also for regional players like India. For India, the port has long served as a key transit point for exporting goods, particularly to landlocked Afghanistan and Central Asia, bypassing Pakistan. The rising tensions may threaten operations in Bandar Abbas, so the Chabahar port is no longer just an option, as it is becoming a strategic imperative for India to connect to Afghanistan, Central Asia, and Eurasia, said Ajay Sahai, director general and CEO of the Federation of Indian Export Organisations (FIEO). 'Rising Israel-Iran tensions reinforce the urgency to operationalize, scale, and integrate Chabahar into India's core trade corridors, which is time and cost-effective," Sahai said. 'India now has an opportunity to shape the future of regional connectivity. Chabahar could emerge not just as a port, but as India's diplomatic and logistical gateway to West and Central Asia," he added. The news agency Press Trust of India on Sunday reported that Indian exporters urged the Centre to shift cargo operations from the Bandar Abbas port to the Chabahar port at a high-level meeting chaired by commerce secretary Sunil Barthwal. Also Read: Mint Explainer | Strait of Hormuz: Will Iran shut the vital oil artery of the world? The meeting brought together senior officials from the ministries of commerce, petroleum, shipping, revenue, and financial services, along with representatives from shipping lines and airport authorities, highlighting the urgency of safeguarding strategic trade corridors, the news agency reported. The spokesperson of the ministry of agriculture and farmers' welfare and the ministry of commerce and industry didn't respond to emailed queries. Challenges ahead However, an immediate diversion of cargo may not be practical due to infrastructure constraints, experts warned. An immediate diversion is not feasible, as the existing infrastructure at Chabahar is inadequate to handle a sudden spike in cargo and container volumes, said Anil Devli, CEO of the Indian National Shipowners' Association (INSA). 'Even roads connecting the port to the nearest highway are not proper, which would make the onward journey both difficult and expensive," Devli said. Despite recent improvements, Chabahar's handling capacity remains modest. The port managed about 80,000 TEUs and three million metric tonnes (MT) of bulk cargo in 2024-25—up from 64,000 TEUs and 2.12 MT in 2023-24, and just 9,000 TEUs and 2.08 MT in 2022-23, according to the data from the ministry of shipping.
Time of India
29 minutes ago
- Time of India
EPTA urges phased ISTS waiver withdrawal to support renewable energy projects
New Delhi: As India moves towards achieving 500 GW renewable energy capacity by 2030, the Electric Power Transmission Association (EPTA) has urged the government to reconsider the planned withdrawal of the Inter-State Transmission System (ISTS) waiver, proposing milestone-based eligibility and phased rollback mechanisms to support developers affected by external delays. The ISTS waiver , introduced in 2016, has been extended only once and is now scheduled for phased withdrawal starting July 1, 2025. According to EPTA, the current plan to reduce the waiver benefit by 25 per cent each year may negatively impact ongoing renewable energy projects , affect investment flows, and increase power costs for commercial and industrial (C&I) consumers, who already face some of the highest electricity tariffs globally. EPTA has proposed a 10 per cent annual withdrawal plan instead of the proposed 25 per cent, stating that a calibrated approach would minimise cost escalation and ensure continued competitiveness of green power. "The government has been very supportive of the sector and has introduced number of policy measures, particularly in the last six months. We are very hopeful that the government will again take a more pragmatic view on the ISTS waiver issue,' said G.P. Upadhyaya , Director General, EPTA. 'We are not seeking a blanket extension. We are only proposing that the projects which have achieved key development milestones, such as securing financial closure, acquiring at least 50% of required land, and placing key equipment orders, should be granted a 6-9 month window to avail the ISTS waiver benefits,' Upadhyaya said. The association has requested that projects with significant progress but delayed by uncontrollable factors be granted limited additional time to come under the waiver's ambit. EPTA's submission aligns with milestone-linked waivers already extended for pumped hydro and battery storage projects until June 2028. EPTA highlighted that over USD 100 billion in transmission investment is expected in the next 8 to 10 years, with the sector playing a central role in India's renewable energy transition. The association has also called for scaling up domestic manufacturing of 765 kV high-voltage direct current (HVDC) equipment under the Production Linked Incentive (PLI) scheme, citing constraints in importing from European and Chinese manufacturers. The industry body also mentioned key infrastructure initiatives such as the planned offshore transmission line from the Andaman Islands to Paradip in Odisha, under the One Sun, One World, One Grid initiative. The project aims to connect the island's demand centres with green power from the mainland. It further pointed to India's growing grid strength and its potential to facilitate cross-border links, including possible future connections from the Andaman Islands to Singapore and from Gujarat to the UAE.
Mint
29 minutes ago
- Mint
India's Export Revolution: How Ex-Im Is Turning Trade Data Into A Strategic Export Weapon
India, June 23, 2025: In a game-changing move for India's mid-sized exporters, The Dollar Business' EX-IM platform is revolutionising how global trade is navigated, ushering in a new era where AI and real-time data replace guesswork and outdated methods. We are seeing exporters now rediscovering growth by identifying high-demand markets, avoiding unreliable buyers, and streamlining logistics, all from a single digital dashboard. As global trade becomes increasingly complex, EX‑IM emerges as the exporter's secret weapon, enabling sharper strategies and faster pivots to secure a competitive edge in volatile markets. According to Avnish Goyal, Founder & Director, The Dollar Business, 'This is the evolution of export intelligence, giving power back to the exporters by making insight not just accessible but actionable in seconds.' Gone are the days when cold calls, luck, and blind trust drove exports. We know mid-sized exporters have often been the unsung heroes of India's economy. They don't always make headlines, but they move everything from tea to textiles across continents. Yet, many of them have flown blind, relying on fragmented knowledge, losing out to tariffs, unpredictable buyers, and clogged ports. It wasn't a lack of ambition but a lack of insight. Take the case of a small but ambitious exporter from Tamil Nadu. Coffee beans were piling up in their warehouse, their biggest buyer from Germany had gone silent, and they were on the brink of shelving their Europe expansion plan. It was then that they logged into EX-IM. Demand heatmaps revealed that Turkey's appetite for premium Indian coffee was surging. Buyer insights exposed new, active importers in Istanbul and Berlin, real companies with verified transaction histories. Route optimisation tools showed faster, cheaper shipping paths, avoiding congested European ports entirely. Tariff alerts warned them of sudden duty hikes, letting them act before costs escalated. EX‑IM pulls real-time trade data from 181+ countries and packages it into simple, strategic dashboards. For the first time, Indian exporters don't have to guess who's buying what, where, or when. It's like switching from a dusty map to Google Earth for your export strategy. Sure, a directory can give you 10,000 buyer names. But trust? That's a different story. EX‑IM doesn't just give you names; it gives you the truth behind them. The platform doesn't just name names. It shows: Shipment frequencies Transaction volumes Port consistency Import categories by buyer That means fewer surprises, more reliable contracts, and a built-in fraud shield. Some exporters call it their 'circle of trust.' We know time is money, but today it is more like survival. With EX‑IM's AI engine running 24/7, exporters can predict demand spikes before they happen. Think of it like a crystal ball that scans millions of trade documents and customs declarations to show: Which markets are heating up Where prices are trending Which routes are likely to slow down And you don't have to wait for a quarterly report. You can pivot weekly, daily, or even hourly. Exporters who once planned on spreadsheets are now strategising with heatmaps. Those who feared price wars are now using tariff intelligence to prevent them. This is a transformation rather than an upgrade. Data is the new currency. Exporters using EX-IM gain access to trade behaviour across continents, down to the product category, price, volume, and importer history. Strategy is no longer passive. With real-time dashboards, you don't just watch the market; you move with it. Speed is your competitive moat. EX-IM's alerts are instant. When a price surge happens in Eastern Europe, you know before your competitors do. This trio—data, strategy, and speed, is the new DNA for exporters wanting to dominate global trade in 2025 and beyond. Exporters using EX-IM are seeing real-world impact: Revenue boosts from identifying untapped, high-paying markets. Cost savings by avoiding overpriced freight paths and last-minute storage fees. Higher buyer retention thanks to smarter delivery timelines and better pricing intelligence. New partnerships from identifying and vetting high-frequency importers who were previously invisible. The biggest value of EX-IM? It is not just the dashboards. It is not even the data. It is the confidence exporters feel when they're equipped to make decisions quickly, strategically, and independently. You log in, see your market landscape, and execute with precision. There's no second-guessing. No sleepless nights over whether your shipment will clear or your pricing will hold. Exporting in 2025 isn't about size. It is about speed, clarity, and bold moves backed by real insight. With the Dollar Business EX‑IM platform, Indian exporters, especially mid-sized ones, are no longer underdogs. They're fast-moving, data-backed powerhouses reshaping global trade. No more blind spots. No more 'wait and see,' just sharp decisions, scalable growth, and peace of mind, delivered straight from the dashboard. For more information, please visit:
