12:03 PM EDT, 03/12/2026 (MT Newswires) -- European bourses were trending lower in Thursday trading as investors continue to keep a wary eye on developments in the Middle East conflict, as well as Iran's closure of the Strait of Hormuz, which has sent oil price soaring.

The Stoxx Europe fell 0.8%, Germany's DAX dropped 0.6%, the FTSE 100 lost 0.7%, France's CAC declined 1%, and the Swiss Market Index was down 1%.

European financial stocks were hit hard as HSBC and Barclays shed 7.1% and 5.8% respectively in London, followed by Standard Chartered and Lloyds Banking, which dropped 4.5% and 3.3% respectively. Deutsche Bank and Commerzbank lost 6.7% and 4.5% respectively in Frankfurt. Societe Generale and BNP Paribas declined 2.8% and 2.7% respectively in Paris, followed by Credit Agricole, which was down 2.4%.

Mining stocks were also tracking lower as Antofagasta and Anglo American fell 3.6% and 3.2% respectively in London. ArcelorMittal lost 4.2% in Paris, while Heidelberg Materials was down 4.7% in Frankfurt.

And in corporate news, Deutsche Bank said Thursday in its annual report that it has about 26 billion euros ($30 billion) in exposure to private credit, an asset class facing rising scrutiny as investors pull back and concerns grow about loan quality.

The German lender said it does not see "significant risks" tied directly to non-bank financial institutions but warned of potential indirect credit risks through interconnected portfolios and counterparties.

Deutsche Bank also said Thursday that it plans to defend itself "robustly" in civil lawsuits filed by former employees, who are seeking more than $980 million in total settlements for alleged damage caused to their careers.

Civil claims for 152 million euros ($176.3 million) and 600 million British pounds ($805.5 million) have been filed by five employees in Germany and the UK.

Stellantis executives have met with Chinese carmakers XPeng and Xiaomi to discuss options for its European operations, including acquiring stakes in Maserati or other brands, Bloomberg reported Thursday, citing people familiar with the matter.

None of the companies immediately replied to requests for comment from MT Newswires.

Shares of Stellantis were down 2.3% in Paris.

UBS and JPMorgan Chase had severed ties with Infini Capital Management well before a probe into the investment firm was made public, Bloomberg News reported Thursday, citing people familiar with the matter.

Infini was recently raided by authorities during an investigation into alleged insider dealing in Hong Kong, the unnamed sources told the news outlet.

JPMorgan, UBS, and Infini didn't immediately respond to MT Newswires' requests for comment.

Shares of UBS lost 2.7% in Zurich.

BHP Group's Newman fines, a specific grade of iron ore, has been banned by state-owned China Mineral Resources Group for domestic firms starting next week over a contract dispute, Reuters reported Thursday, citing three sources with knowledge of the matter.

The Chinese government has been increasing restrictions on purchases of BHP's iron ore over the past six months as it negotiates the terms of its 2026 contract with steelmakers, according to the report.

Shares of the mining company fell 2.4% in London.

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