European Stocks Set for Lower Open
European equity markets were set to open lower on Tuesday, extending their retreat from record highs as global bond yields surged amid mounting fiscal and inflation concerns across major economies. The Eurozone 10-year sovereign bond yield climbed above 3.2%, its highest level in 15 years, while benchmark 10-year yields in Germany and France also reached multi-year highs. The moves came as oil prices advanced further on fading hopes for a diplomatic resolution to the Middle East conflict and the reopening of the Strait of Hormuz. Meanwhile, investors will assess UK jobs data, along with the Eurozone and Germany’s ZEW Economic Sentiment surveys, for fresh clues on the region’s economic health. There are no major earnings releases in Europe on Tuesday. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures fell 0.6% and 0.4%, respectively.
European equity markets were set to open lower on Tuesday, extending their retreat from record highs as global bond yields surged amid mounting fiscal and inflation concerns across major economies.
The Eurozone 10-year sovereign bond yield climbed above 3.2%, its highest level in 15 years, while benchmark 10-year yields in Germany and France also reached multi-year highs.
The moves came as oil prices advanced further on fading hopes for a diplomatic resolution to the Middle East conflict and the reopening of the Strait of Hormuz.
Meanwhile, investors will assess UK jobs data, along with the Eurozone and Germany’s ZEW Economic Sentiment surveys, for fresh clues on the region’s economic health.
There are no major earnings releases in Europe on Tuesday.
In premarket trade, Euro Stoxx 50 and Stoxx 600 futures fell 0.6% and 0.4%, respectively.