European markets set to start the week lower as Middle East crisis worsens
London at dawn.
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Good morning from London, and welcome to CNBC's live blog covering European financial markets and the latest regional and global business news, data and earnings.
Futures data from IG suggests a choppy start for European markets, with London's FTSE looking set to open 0.3% lower at 8,747, Germany's DAX down 0.4% 23,222, France's CAC 40 0.5% lower at 7,536 and Italy's FTSE MIB 0.6% lower.
Global market sentiment could plummet further this week after the United States entered Israel's war against Iran over the weekend, launching strikes against three nuclear sites in Fordo, Isfahan and Natanz. The move by U.S. President Donald Trump surprised investors because he had said last Friday that he would make a decision to attack Iran "within the next two weeks," according to the White House.
The latest attacks caused oil prices to rise further and have stoked fears of a wider conflict in the Middle East. Asia-Pacific markets declined overnight, while U.S. stock futures fell ahead of Monday's session.
— Holly Ellyatt
Global markets will be on edge, given the escalation in the Middle East over the weekend, as a further spike in oil prices could be on the cards.
In Europe, flash purchasing managers' index data, showing business activity in the services and manufacturing sectors, is due Monday morning.
There are no other major earnings or data releases.
— Holly Ellyatt
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