European Stocks Head for Lower Open
European equity markets were set for a weaker open on Monday as oil prices rallied again after Saudi Arabia shut down a major oil pipeline following drone attacks, while a planned meeting between Iran and Gulf states was postponed. Global sentiment was also pressured after artificial intelligence companies called for a slower pace of development amid growing concerns over safety risks. Investors were additionally preparing for the US Federal Reserve’s policy meeting this week, where the central bank is expected to raise interest rates to counter persistent inflationary pressures. The European Central Bank also delivered a rate hike last week, while the Bank of England is expected to keep policy unchanged on Thursday. No major economic data or corporate earnings reports are scheduled for release in Europe today. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures fell 0.4% and 0.2%, respectively.
European equity markets were set for a weaker open on Monday as oil prices rallied again after Saudi Arabia shut down a major oil pipeline following drone attacks, while a planned meeting between Iran and Gulf states was postponed. Global sentiment was also pressured after artificial intelligence companies called for a slower pace of development amid growing concerns over safety risks. Investors were additionally preparing for the US Federal Reserve’s policy meeting this week, where the central bank is expected to raise interest rates to counter persistent inflationary pressures.
The European Central Bank also delivered a rate hike last week, while the Bank of England is expected to keep policy unchanged on Thursday. No major economic data or corporate earnings reports are scheduled for release in Europe today. 2%, respectively.