Live Markets-Before the bell: Oil surge, higher yields keep Europe cautious
SPY•M&A in European property
In M&A, Segro rejected a second improved takeover proposal from U.S. logistics property group Prologis, which valued the British warehouse landlord at about 13.5 billion pounds.
Sector moves and company updates
Energy stocks were set to be among the main gainers in Europe, with Equinor, Eni and TotalEnergies up around 1-2% in premarket trading.
Prysmian jumped 4.5% after the Italian cable maker announced a $6.4 billion supply agreement with Molex linked to data-centre infrastructure, potentially supporting sentiment towards European companies exposed to the AI investment theme.
Ryanair was down around 2.5% after the airline warned summer fares were likely to be modestly below last year's levels and reported quarterly profit below expectations.
The wider European travel and leisure sector is already facing uncertainty linked to geopolitical tensions and higher fuel costs. Lufthansa was down 1.1% premarket.
European shares seen opening cautiously
European shares were set for a cautious open on Monday as a jump in oil prices and rising yields kept investors on edge after another escalation in the Iran conflict, while last week's selloff in global technology stocks also weighed on sentiment.
Euro STOXX 50, DAX and FTSE futures fell 0.1-0.3%, while Brent crude briefly climbed above $91 a barrel, reviving inflation concerns and pushing Germany's two-year government bond yield to a two-year high just days before Thursday's ECB policy meeting.
Wall Street futures steady ahead of earnings
Nasdaq futures edged higher, however, signalling a steadier start on Wall Street after Friday's retreat, as investors geared up for earnings this week from Alphabet, Intel and Tesla.
