European markets set for mixed open as traders track Middle East turmoil
CNBC
European stocks are expected to open in mixed territory on Wednesday as markets continue to track developments in the Middle East.
LONDON — European stocks are expected to open in mixed territory on Wednesday as markets continue to track the war in the Middle East.
The U.K.'s FTSE index is seen opening 0.3% higher, Germany's DAX and France's CAC 40 flat and Italy's FTSE MIB slightly lower, according to data from IG.
Regional stocks had traded sharply lower on Tuesday as the conflict continued to weigh on global investor sentiment. Banking, insurance, travel and leisure and utilities stocks led losses.
Gold prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating U.S. and Israeli air war against Iran.
The yen and euro were lower on Tuesday as the widening Middle East conflict focused attention on countries dependent on energy imports.
Oil prices continue to rise Iran's Revolutionary Guard says it has closed the Strait of Hormuz,
European stocks are expected to start the new trading week firmly in negative territory.
Oil prices jumped to their highest levels in months on Monday as Iran and Israel escalated attacks in the Middle East, disrupting shipments from the region.
Gold prices rose on Monday after the U.S. and Israel launched strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, deepening global uncertainty.
Oil futures on Monday jumped by over 8%, with West Texas Intermediate futures and Brent trading at $72.52 and $79.04 per barrel respectively.
European markets finished mixed as more earnings reports and economic data were in focus.