SPY•SPY•Akzo Nobel AKZO.AS was set to be a big mover after Nippon Paint offered 7.5 billion euros for its decorative paints business, reviving break-up speculation around the Dutch coatings group. The shares were indicated 5-8% higher.
Norwegian defence and technology group Kongsberg KOG.OL reported a 53% rise in second-quarter order intake, driven mainly by contracts for its Joint Strike Missile programme, underscoring continued strength in defence spending.
European shares looked set to open lower on Monday, as investors grappled with a fresh escalation in tensions between the United States and Iran, which pushed oil prices higher and revived concerns about inflation and the interest-rate outlook.
Euro STOXX 50 .STOXX50E and DAX .GDAXI futures were down around 0.8%, while FTSE .FTSE contracts fell 0.5%. Nasdaq 100 futures lost 0.8%, and weakness across Asian technology stocks, including a sharp drop in SK Hynix 000660.KS, pointed to pressure on Europe's semiconductor sector.
Oil stocks were the standout gainers in pre-market trading as crude prices rose on the Middle East developments. Eni ENI.MI, Equinor EQNR.OL, TotalEnergies TTEF.PA, Shell SHEL.L and Repsol REP.MC were indicated 1-3% higher.
Technology names were under pressure after a weak lead from Asian chipmakers despite record sales data from TSMC 2330.TW. ASML ASML.AS, Infineon IFXGn.DE, STMicro STMPA.PA and ASM International ASMI.AS were indicated down 2-4%.
Airlines were also under pressure as energy prices weighed on sentiment. Ryanair RYA.I and Lufthansa LHAG.DE were called lower, while airport operator Fraport FRAG.DE cut its Frankfurt passenger traffic outlook, although BNP Paribas upgraded the stock.
