Europe stocks set to fall as US-Iran tensions fuel oil rebound
USO•Europe’s benchmark equities index was set to fall at the open after reports of U.S. strikes on Iran lifted crude prices. Brent gained 1.6% to more than $100 a barrel, while pan-European STOXX 600 futures fell over 1%.
1. European futures slide
Futures tracking the pan-European STOXX 600 slipped over 1% by 0712 GMT, while Germany’s DAX and Spain’s IBEX futures fell about 1%. The moves followed reports of U.S. strikes on Iran’s Qeshm Island in the Strait of Hormuz, a day after Iran signalled openness to peace talks.
2. Oil rebounds
Brent crude rose 1.6% to more than $100 a barrel, rebounding from a 7% drop in the previous session. Airlines are in focus after German airline group Lufthansa trimmed its profit outlook.
3. Companies in focus
Aixtron, ASML and Schneider Electric could come under pressure following a selloff in Asian equities, as investors reassess the AI trade after disappointing results from major U.S. hyperscalers. Apple’s gross margin forecast for the holiday quarter, which it said was affected by rising memory-chip costs, also weighed on risk appetite. Bayer raised its 2026 profit outlook.
