Stoxx 600, FTSE, DAX, CAC, Iran latest, oil prices
A stockbroker looks at his monitors in the trading room of the Frankfurt Stock Exchange. Concerns about a new coronavirus mutation in South Africa have dealt a major blow to the German stock market.
Arne Dedert | Picture Alliance | Getty Images
LONDON — European stock markets are expected to open in the negative zone on Thursday as the negative atmosphere in regional markets continues and oil prices begin to rise.
of england FTSE100 Germany’s index is expected to open with a decrease of 0.7% DAX France fell 1.3 percent CAC 40 Italy, down 0.77% FTSE MIB 0.9% lower according to IG data.
International benchmark Brent crude rose almost 1.3% to $103.19 a barrel at 1:19 a.m. ET on Thursday after media reported that the United States had seized at least three Iranian oil tankers in Asian waters, raising uncertainty that the conflict in the Middle East could prolong.
European stocks missed gains by U.S. stocks on Wednesday and closed lower as investors weighed the extension of the war ceasefire in Iran and the ongoing blockade of the Strait of Hormuz.
Sentiment was also kept in check after Germany halved its 2026 economic growth forecasts, with officials saying they expected Europe’s largest economy to grow just 0.5% this year. The GDP forecast for 2027 was reduced from 1.3% to 0.9%.
The German Ministry of Economy cited the Iran war and the closure of the Strait of Hormuz as the reasons for the downgrades and said that costs for households and businesses in the country had increased. Officials had predicted that inflation would rise to 2.7% this year and 2.8% next year.
Shares in Japan and South Korea hit record highs overnight before Asia-Pacific markets fell into negative territory following reports that Iran was interfering with tankers. S&P 500 futures were little changed Wednesday night.
Another busy day for earnings in Europe Roche, Nestlé, of SAP, sanofi, crane, LSEG, Orange, Nokia’s, heineken, STMicroelectronics, Dassault Systems And Renault Among companies reporting on Thursday.
Data includes flash services and manufacturing PMIs for the euro zone and the UK, as well as new car registrations for the EU.
