(Il Sole 24 Ore Radiocor) - Milano, 5 mag - European share prices opened mostly lower this morning, as escalating tensions in the Middle East weighed on overall risk appetite.

Markets are reacting to reports that US forces repelled Iranian attacks while escorting vessels through the Strait of Hormuz, while the UAE's Fujairah port was reportedly hit by an Iranian drone strike.

The renewed friction in the Persian Gulf has sent oil prices higher, fueling inflation concerns and strengthening expectations that central banks may need to maintain a tighter policy stance.

On the data front, Spain's unemployment rate fell 2.59% month-on-month in April.

Investors today will also be focusing on a heavy slate of corporate earnings reports as the quarterly season continues on both sides of the Atlantic.

At 0708 GMT, London's FTSE 100 was down 1.06% at 10,254.54 points, while in Frankfurt the DAX was 0.11% lower at 24,008.17 points and in Paris the CAC 40 fell 0.10% to 7,968.18 points. In Madrid, the IBEX 35 slipped 0.08% to 17,342.75 points. Milan's FTSE MIB was up 0.54% at 47,732.50.

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(RADIOCOR) 05-05-26 09:09:24 (0208) 5 NNNN