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European equity markets were set to open lower on Monday, extending the previous session’s losses as renewed US–Iran tensions pushed oil prices higher, stoking inflation concerns and bolstering expectations of further interest rate hikes. In the latest developments, President Donald Trump warned that Tehran is running out of time to reach an agreement with Washington, while Iranian media reports indicated that talks remain at an impasse. A nuclear facility in the United Arab Emirates was also attacked, raising fresh doubts about the durability of the already fragile US–Iran ceasefire.
Investors are also awaiting Italian trade balance data and Turkish consumer confidence figures for additional economic signals. In corporate news, Ryanair CFO Neil Sorahan said the airline has prepared for an “armageddon situation” in response to the worsening jet fuel crisis. In premarket trading, Euro Stoxx 50 futures were down 1%, while Stoxx 600 futures declined 0.6%.
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