Peter Nurse 

Investing.com. European stock market prices fell Monday. Investors were concerned about global economic growth and rising geopolitical tensions.

By 3:40 AM ET (0740 GMT), the in Germany traded 0.6% lower, the in France fell 0.8%, and the U.K.’s dropped 0.4%.

China provided a stark example of global economic decline earlier Monday when April fell 11.1% on the previous year. However, it also dropped 2.9%, which is a sign of how serious COVID lockdowns had done to China’s second largest economy. 

Investors are also keeping a close eye on geopolitical developments as moved closer to applying for membership in NATO, ending years of neutrality as Russia’s invasion of Ukraine forced the two Nordic nations to reassess their positions.

The entry of Sweden and Finland would significantly extend the alliance’s border with Russia, a move that will annoy Moscow which has consistently warned the pair of potential consequences.

Later in the session the European Union will publish its economic forecasts. The market will examine the effects of the Ukraine conflict and the soaring inflation rate on growth projections. On February 20, the EU economy would grow 4.0% in 2022, and 2.8% in 2023. 

Ryanair (IRS:) stock rose 2.4% following a tentative statement by Ryanair that it would make a profit again this year, despite having posted an annual loss of 369 M Euro (355M) at the March 31st.

Renault The stock of (EPA:) fell 0.6% following the announcement by the French carmaker that it would sell its major stake in Avtovaz carmaker to a Russian science institution, which has a six year option to purchase the stake back.

Although oil prices fell Monday due to signs that China’s demand was declining, they remained elevated as the European Union implemented an import ban for Russian crude. This further increased global supply.

China, the world’s largest importer of oil, processed 11% less crude in April than a year earlier, according to data released earlier Monday, with daily throughput falling to the lowest since March 2020 as refiners slashed operations in the face of dwindling demand due to widespread COVID-19 lockdowns.

At 3:40 AM ET futures had traded 0.8% lower at $107.80/barrel, and the contract dropped 1.1%, to $110.35.

Both benchmarks showed sharp gains last Friday. The WTI contract reached its highest level in three months, March 28, 2008. The European Union expects to continue to implement a phased embargo against Russian oil, despite concern about the supply situation in eastern Europe.

The price fell 0.6% to $1798.29/oz and traded 0.1% lower at 1.0418.