European markets set to slide at the open as geopolitical risks rise
CNBC
European stocks are expected to open firmly in negative territory Tuesday as the geopolitical crisis in the Middle East continues to weigh on market sentiment.
LONDON — European stocks are expected to open firmly in negative territory on Tuesday as the geopolitical crisis in the Middle East continues to weigh on global market sentiment.
The U.K.'s FTSE index is seen opening 0.7% lower, Germany's DAX down 1%, France's CAC 40 down 0.75% and Italy's FTSE MIB 0.6% lower, according to data from IG.
Global markets continue to slide as the conflict between the U.S. and Iran engulfs the wider Gulf region. Overnight, Saudi Arabia's defense ministry said that two drones hit the U.S. embassy in Riyadh.
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.