1021 GMT - The cost of insuring euro credit against default rises as risk appetite falls due to high oil prices and increased inflation concerns. "With the prospect of an Iran peace deal on the backburner, it is natural that risk tolerance will fall," XTB's Kathleen Brooks says in a note. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 10 basis points to 316bps, a six-month high, S&P Global Market Intelligence data show.
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