European stocks set to open lower following U.S. strikes on Iran, mixed messages on peace talks
European markets are anticipated to open lower amid rising tensions in the Middle East and fluctuating oil prices. U.S. strikes in Iran have contributed to market volatility, despite earlier indications of potential peace negotiations. Investors are also keeping an eye on developments in Ukraine as threats of further strikes loom.
- ▪European markets are set to open lower, with the FTSE 100 down 0.58% and the CAC 40 down 0.33%.
- ▪U.S. forces conducted strikes in Iran, described as 'self defense' by Central Command.
- ▪Oil prices are fluctuating, with Brent crude up 2.7% and West Texas Intermediate futures down 4.3%.
- ▪Russia's foreign minister has warned of systematic strikes on Kyiv, prompting calls for evacuations.
- ▪There are no major economic data releases expected on Tuesday.
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LONDON — European markets were set to open broadly lower on Tuesday, as traders monitored developments in the Middle East and Ukraine amid renewed volatility in oil markets.In London, the FTSE 100 was set to open 0.58% lower, while France's CAC 40 was expected to begin trading down 0.33%, with Germany's DAX 0.34% lower and the Italian FTSE MIB dipping 0.46%, according to IG data. Stoxx 50 futures were down 0.31%. The retreat follows strong gains across major European bourses on Monday, with the DAX ending the session 2.01% higher, the CAC 40 rising 1.76% and the FTSE MIB up 1.43%. Markets were closed in London on Monday for the U.K. late spring bank holiday.
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