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European stocks struggle with oil prices under pressure

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European stocks were struggling for traction at the start of the week.

European stocks saw a lackluster start to the week as oil-price weakness drove losses for major energy companies, with shares of Deliveroo leading the gains, while Hargreaves Lansdown tumbled.

One of the biggest losing sectors was oil, with U.S. crude CL00, -3.09% down around 4%, and Brent BRN00, -3.00% close to that, following last week’s selloff that came as some are worried that China could crack down further on efforts to halt the spread of the delta variant of coronavirus, which causes COVID-19.

Elsewhere, shares of delivery-service group Deliveroo ROO, +5.72% was among the top gainers, climbing nearly 6%, after news that Germany’s Delivery Hero DHER, -2.06% has obtained a 5.1% shareholding in the company. A team of Jefferies analysts led by Giles Thorne, said it’s hard to say at this point what Delivery Hero’s intention is.

 

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