European stocks drift lower as Hormuz tensions and U.S. data dominate

European equity markets edged lower across two sessions as investors balanced Middle East supply risk against softening U.S. economic data. The FTSE 100 slipped as reports of an Iranian blockade and tensions around the Strait of Hormuz lifted oil prices, weighing on sentiment more broadly while supporting energy names. Continental indices drifted with little conviction ahead of upcoming U.S. releases. In fixed income, German Bunds consolidated as traders weighed sharply weaker U.S. payrolls figures — which argue for lower policy rates — against the inflationary pull of rising crude. Asian markets were mixed, with Australia's S&P/ASX 200 closing down 0.33% and Taiwan's weighted index broadly flat.