European markets set to open sharply lower as Middle East conflict weighs on sentiment
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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