European markets set to start the week lower as Iran war intensifies
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European stocks are expected to start the new trading week in negative territory as the war in Iran showed no signs of ending soon as it entered its fifth week.
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LONDON — European stocks are expected to open in negative territory on Monday as investors grapple with a further escalation in the Iran war and the conflict enters its fifth week. The U.K.'s FTSE 100 index is seen opening 0.2% lower, with Germany's DAX down 0.6%, France's CAC 40 down 0.4%, and Italy's FTSE MIB down 0.4%, according to data from IG. Asia-Pacific markets traded lower overnight and European bourses look set to follow suit, as traders digest the latest war developments over the weekend. U.S. President Donald Trump told the Financial Times on Sunday that said he could " take the oil in Iran " and seize Iran's export hub of Kharg Island. Meanwhile, Yemen's Houthi movement said Saturday it had fired missiles at Israel , marking its first direct involvement in the U.S.- and Israeli-led war against Iran. In a post on X, Houthi spokesperson Yahya Saree said the group launched a barrage of ballistic missiles at what it described as sensitive Israeli military sites, in support of Iran and allied Hezbollah forces in Lebanon. The strike signals a further escalation in a conflict that began with U.S. and Israeli airstrikes on Iranian targets on Feb. 28. Oil prices were higher in early Asia trading hours. West Texas Intermediate crude futures were up 2.58% at $102.19 per barrel. G7 finance ministers, energy ministers and central bank governors are set to hold an emergency meeting on Monday . The meeting, set to be held virtually, marks the fourth time since the start of the war in Iran that the G7 has convened at a ministerial level. Data releases on Monday include EU economic sentiment and Germany's latest inflation print. — CNBC's Lee Ying Shan, Anniek Bao and Leonie Kidd contributed to this market report. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captionin...
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