European stocks set for losses amid global tensions

The pan European Stoxx 600 edged up by 0.1%, the German DAX finished marginally lower and France’s CAC 40 declined half a% while the U.K.’s FTSE 100 rose 0.6%

European stocks are seen opening deep in the red on Monday as the U.S.-Iran confrontation deepened and began to reverberate across the broader Middle East.

Manufacturing and services PMI figures, final fourth-quarter GDP and employment data from the euro zone, and the spring statement by the U.K.’s treasury chief May Garner attention as the week progresses.

Gold prices traded up more than 1% above $5,350 an ounce.

There were also concerns about possible losses from the collapse of U.K. residential mortgage bridging lender Market Financial Solutions.

European stocks ended mixed for a second straight session on Friday, with AI-related and geopolitical news in focus.

The pan European Stoxx 600 edged up by 0.1%. The German DAX finished marginally lower and France’s CAC 40 declined half a% while the U.K.’s FTSE 100 rose 0.6%.

Asian markets were mostly lower, with Chinese stocks defying the weak trend as lawmakers and political advisors gather for a key strategic session.

The dollar index advanced on risk aversion as Brent crude futures briefly crossed $80 per barrel on worries that the U.S. and Israel’s attack on Iran could escalate across the region and hit oil supply.

With the Strait of Hormuz, a critical oil chokepoint, facing potential disruptions, eight OPEC+ nations have announced that they will increase crude oil output by 206,000 barrels daily in April.

U.S. stocks dropped notably on Friday and notched their largest monthly percentage declines in a year on the back of escalating U.S.-Iran tensions, revived tariff uncertainties and renewed concerns over costs, disruption and layoffs related to artificial intelligence.

The Dow shed 1.1%, the tech-heavy Nasdaq Composite slipped 0.9% and the S&P 500 dropped 0.4%.