European markets set to open sharply lower as Middle East conflict weighs on sentiment
A view of the London skyline during sunrise looking east, including Canary Wharf, from Horizon 22, London's highest free viewing platform. Picture date: Friday September 15, 2023.
Yui Mok - Pa Images | Pa Images | Getty Images
Good morning and welcome to CNBC's live blog covering European financial market action and the latest regional and global business news, data and earnings.
Futures data from IG suggests sharp falls across European markets at the open, with London's FTSE looking set to open 52 points lower at 8,827, Germany's DAX down 245 points at 23,447, France's CAC 40 down 75 points at 7,665 and Italy's FTSE MIB 329 points lower at 39,568.
Global investors continue to assess ongoing fighting between Israel and Iran tensions after continued missile attacks and airstrikes on Monday.
Oil prices have risen on supply worries, and the price of gold has also increased amid a flight to safe haven assets after the conflict erupted last week.
Those prices rose further overnight, and U.S. stock futures turned lower, after U.S. President Donald Trump signaled a further escalation in attacks could be coming as he urged Iranians to evacuate Tehran.
— Holly Ellyatt
U.S. President Donald Trump participates in a meeting with fellow G7 leaders during a meeting at the G7 Leaders' Summit on June 16, 2025 in Kananaskis, Alberta. Canada is hosting this year's meeting of the world's seven largest economies.
Chip Somodevilla | Getty Images
The Group of Seven summit concludes in Canada on Tuesday, with no joint communique expected at the end of the gathering. U.S. President Donald Trump left the meeting a day early because of the situation in the Middle East, the White House said on Monday.
The G7 released a statement late on Monday affirming its support for Israel and describing Iran as the "principal source of regional instability and terror."
In Europe, the Paris Air Show continues, with last week's Air India crash disaster and conflict in the Middle East dominating conversation at the show. Read more here: Boeing Dreamliner crash, military escalations darken mood at Paris Air Show
On the data front, ZEW's survey of economic sentiment in Germany and Europe will be released at 10 a.m. London time.
There are no major earnings in Europe Tuesday.
— Holly Ellyatt
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News24
30 minutes ago
- News24
Oil climbs after Trump's Tehran warning, Sasol now up 80% since April
• For more financial news, go to the News24 Business front page. Oil prices jumped on Tuesday after US president Donald Trump call for Tehran residents to evacuate. Brent crude rose more than 1% to $74.15 a barrel. A month ago, it was trading close to $60. The synthetic fuels group Sasol's share price continued its surge from Friday. By late morning on Tuesday, it was trading at R99.43. It was trading at R87 on Thursday, before Israel's attacks on its regional foes. Its shares have now gained 80% since it reached its lowest level since the pandemic in April. Sasol has been grappling with the fallout of a disastrous US chemicals project, which resulted in a huge debt burden. After Friday's surge sparked by the attacks, crude ticked more than one percent lower Monday as traders bet that the conflict would not spread throughout the Middle East and key oil sites were mostly left untouched. Prices bounced back Tuesday after Trump called for the evacuation of the Iranian capital, which is home to nearly 10 million people. "Iran should have signed the 'deal' I told them to sign," he said on social media, referring to nuclear talks that were taking place. "What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!" Trump later poured cold water on remarks from French President Emmanuel Macron that he was leaving the G7 summit in Canada to discuss a possible ceasefire. Gains were tempered after the International Energy Agency said in its 2025 report that global demand would fall slightly in 2030 for the first time since the start of the Covid pandemic in 2020. It cited "below-trend economic growth, weighed down by global trade tensions and fiscal imbalances, and the accelerating substitution away from oil in the transport and power generation sectors". Traders are keeping a wary eye on developments in the Iran crisis, with the aircraft carrier USS Nimitz leaving Southeast Asia on Monday after cancelling a Vietnam visit as the Pentagon announced it was sending "additional capabilities" to the Middle East. Trump has maintained that Washington has "nothing to do" with Israel's campaign, but Iran's foreign minister said Monday the US leader could halt the attacks with "one phone call". Tehran has said it would hit US sites if Washington got involved. Meanwhile, Britain, France and Germany called on Iran to quickly return to the negotiating table over its nuclear programme, a French diplomatic source said. The US president had earlier said Iran wanted to make a deal, adding "as soon as I leave here, we're going to be doing something". He later left the gathering in the Rockies, telling reporters: "I have to be back as soon as I can. I wish I could stay for tomorrow, but they understand, this is big stuff." Tehran had signalled a desire to de-escalate and resume nuclear talks with Washington as long as the United States did not join the conflict, according to the Wall Street Journal. Rand recovers After briefly breaking through R18/$ on Friday, the rand strengthened to R17.8177 by mid-morning on Tuesday. The rand has lost half a percent of its value against the dollar over the past week. Equities were mixed in Asian trade, with Tokyo, Singapore, Seoul, Manila, Bangkok, Jakarta and Taipei all advancing, while Hong Kong, Sydney, Wellington and Mumbai struggled along with London, Paris and Frankfurt. The JSE's All-Share index was 0.3% lower, with Harmony (-3.9%), AngloGold (-3.4%) and Gold Fields (-3%) among the biggest losers. Dealers also kept tabs on the G7 summit, where world leaders pushed back against Trump's trade war, arguing it posed a risk to global economic stability. Britain, Canada, Italy, Japan, Germany and France called on the president to reverse course on his plans to impose even steeper tariffs on countries across the globe next month.
USA Today
38 minutes ago
- USA Today
Dems scream that democracy is in peril while proving that it's absolutely fine
Dems scream that democracy is in peril while proving that it's absolutely fine | Opinion Despite the fact they were able to protest freely – something that isn't allowed in Cuba or Russia – progressives still act as if President Donald Trump is destroying democracy. Show Caption Hide Caption Army 250th anniversary parade marches on despite weather worries President Donald Trump's controversial military parade kicked off 30 minutes early to avoid inclement weather. I would like to thank the 'No Kings' protesters. The estimated 5 million people who attended more than 2,000 protests nationwide June 14 made an excellent point: Our democracy is alive and well. Now, that is not what protest organizers intended. They chose the name for their day of action in response to President Donald Trump's decision to hold a military parade to honor the 250th anniversary of the Army (June 14 also happened to be Trump's 79th birthday). Liberals have painted the president as a tyrant and authoritarian, resembling the dictators in Russia and North Korea – thus the plea for 'no kings.' Yet, the protesters disproved their own point. Opinion: Hey, Democrats, LA riots make Americans like me glad Trump is president The demonstrations mostly went off without hitches, and the federal government did nothing to stop them. Protesters carried signs and shouted things extremely critical of Trump and his administration. No one was arrested for participating in peaceful rallies. That is exactly what democracy and our constitutional rights look like in practice. Liberals are confused about the freedoms they have Despite the fact they had every right to protest freely – something that is not allowed in countries like Russia and North Korea – progressives still acted as if Trump is destroying the principles of our country. 'On this day, where we celebrate the flag, where we celebrate America, we are fighting for democracy,' Randi Weingarten, president of the American Federation of Teachers, said at an event in Philadelphia. 'The throughline in America is that the people are governed not by a king, not a tyrant, not nobility, but the people.' Perhaps Weingarten, whose Democratic-loving teachers union helped organize the No Kings protests, has forgotten that the American people decisively elected Trump just seven months ago. She's not the only one. Opinion: Trump hosts patriotic parade as Democrats plan silly protests against 'kings.' Another protestor, Margo Ross of California, told NPR, 'I am completely terrified of what's going on in our country' and that 'from the beginning it's been a coup and a fascist overthrow.' Again, the very ability to hold the protests disproves those 'fears.' Democrats, media show they were not really worried about Trump's parade The reaction to the weekend's festivities also highlighted how Democrats and journalists were never that concerned about Trump's Army parade, despite all their handwringing ahead of time. After raising fears about the parade and what it says about Trump's authoritarian instincts, progressives roundly mocked the military display as 'underwhelming,' a 'disappointing, sad affair' and 'pathetic.' Opinion: Can you be legally punished for misgendering someone? Colorado says yes. This belies that they ever really thought the parade would be a threat to democracy. 'Overall this was a pretty listless and low-energy parade and crowd," The New York Times' John Ismay observed from the event. Opinion alerts: Get columns from your favorite columnists + expert analysis on top issues, delivered straight to your device through the USA TODAY app. Don't have the app? Download it for free from your app store. The Independent's Richard Hall acknowledged the parade was less North Korea-lite and 'something closer to a medium-sized town's July 4th celebration.' Following the June 14 parade and protests, here's my takeaway: Trump is nowhere close to a dictator – and Democrats proved U.S. democracy is just fine. Ingrid Jacques is a columnist at USA TODAY. Contact her at ijacques@ or on X: @Ingrid_Jacques
Fox News
40 minutes ago
- Fox News
LIZ PEEK: Trump's Army celebration offers startling split screen with angry Democrats
Call me crazy, but dissing our nation's army on its 250th birthday seems like yet another Democrat blunder. What a split-screen Americans witnessed this past Saturday. On the one hand, they saw thousands of patriots cheering our nation's troops, and on the other, "mostly peaceful" protesters screeching that our democracy is under assault. Demonstrators were caught on video waving Hamas flags, jeering our veterans and beating up cops. Angry crowds led by the likes of Randi Weingarten, whose teachers' union does more to promote social injustice than any other organization on earth, as they graduate class after class of minority kids unable to read and condemned to lives without futures. Democrats, who crowned Joe Biden their candidate in 2024 by resetting the primary calendar to guarantee their incumbent's ascension, sued to keep RFK, Jr. off the ballot, banned competitors from running, and tried to lock up Donald Trump, are no friends to democracy. Democrats, who lied to the country about Joe Biden's mental decline and tried to make an incompetent man president for four more years so they could hold onto power, should shut up about tyranny. The left is especially furious that democracy failed them last year, when a solid majority of the country elected Donald Trump and handed the government over to Republicans. Their "No Kings Day" protests were an eruption of their fury, like the howls of angry, thwarted toddlers. They timed the nationwide demonstrations to detract from the Army's 250th birthday celebration, insulting not only President Trump but also our men and women in uniform, notwithstanding that our military is one of our nation's most respected institutions. Democrats have no agenda other than bucking everything President Trump does, even if it puts them at odds with most of the country and makes them politically toxic. They are ready to go to bat for (in no particular order): Violent criminals in our country illegally, biological men who want to compete in women's sports, open borders, abortions through nine months, DEI, unlimited welfare checks for everyone and waste, fraud and abuse in our government. They are against: ICE, who rids the country of sex traffickers, fentanyl dealers and murderers; school choice, which offers kids of all kinds better education options; our proud military; cutting government spending; lowering taxes to promote businesses; productivity and hiring and religion. No wonder they lost last fall. The contrasting events on Saturday said it all. President Trump staged an uplifting day of festivities to celebrate the Continental Congress commissioning our first military, the Continental Army, on June 14, 1775. The festival opened with an Army fitness competition, and included a chance to interact with soldiers, astronauts and Medal of Honor recipients – the bravest of the brave. The fitness event doubtless alienated many on the left, who have decided that running, being muscular and keeping fit is a right-wing fever, not an activity that improves wellness and longevity. Think I'm kidding? In 2022, Time magazine published an article tracking "The White Supremacist Origins of Exercise," which kicked off a loony and ongoing attack on healthy activity. Last year, The Guardian published an article with this title: "Getting fit is great – but it could turn you into a rightwing jerk." This, from an author who admitted buying into every fitness craze extent, but who has come to believe that "getting fit makes you more rightwing." I'll spare you her tortured calculus on how people can enter "an unwitting slide into fascism, hastened by a treadmill." The Army celebration culminated in a parade which showcased the history of our country's fighting forces and battles, from the revolution to today. The liberals who dragged their children through angry demonstrations should have taken them instead to D.C.; they might have learned a thing or two about our past, and taught their kids some respect for the lives lost protecting their right to protest. Democrats were incensed that Donald Trump's birthday fell on the day chosen to celebrate our military. They accused him of using the event to celebrate himself, though the planning for Saturday's festival was more than two years in the making. As it happened, even the New York Times could not find much to complain about, describing the day as expressing mainly "patriotism and gratitude for the army" and "somewhat more restrained than other displays Mr. Trump has praised, such as Bastille Day in France." The Times reporter acknowledged that many viewed the festival as a "savvy recruitment tactic." The U.S. military shelled out more than $6 billion over the past three years to recruit and retain service members; the administration believes the parade, which cost roughly $45 million, will boost enlistment. Already, recruitment has increased, with the Trump administration meeting its goal months ahead of schedule. The liberal media had a tough day. MSNBC hosts Ali Velshi and Chris Hayes were clearly disappointed that the military celebration was positive and upbeat, with Hayes noting the festivities lacked the "dark, malevolent energy," which he said was often present at President Trump's rallies. Velshi agreed, commenting "I'm just sort of surprised by the number of people who were at the front of the parade watching, cheering, and then would come and ask to take a selfie." The clueless commentators also acknowledged that America's "civic culture and democratic culture is actually quite strong and sort of is an enormous asset that we have when we compare ourselves to other places…" Yes, that's what Republicans have been saying all along: our democracy is alive and well. Not everyone was happy. Former West Point professor Graham Parsons warned in The Atlantic that Trump is trying to "politicize the U.S. military." To protest Trump's ban on discussions of race and gender at the academy, Parsons resigned his position, since his "research agenda" -- studying "the relationship between masculinity and war, among other things —was effectively off limits." Another win for President Trump.
