European stocks are set to open lower Monday as tensions between the U.S. and Iran continue to stoke fears of a military confrontation in the Middle East.
European Markets: FTSE, GDAXI, FCHI, IBEX
The U.S. is planning to impose major new sanctions on Iran despite a diplomatic push from European leaders to urge restraint from leaders in Washington and Tehran. However, U.S. President Donald Trump and Secretary of State Mike Pompeo both said over the weekend that the White House is prepared to, days after the two nations almost came to blows over the downing of an American surveillance drone.
Stocks in Asia traded mixed Monday afternoon while oil prices continued to surge due to U.S.-Iran tensions. Mainline Chinese stocks slipped by the afternoon, while indexes in Hong Kong, Japan and South Korea edged higher. Trade relations between the U.S. and China will also be in focus once again, after Chinese vice commerce minister Wang Shouwen said Monday thatBack in Europe, the frontrunner to become Britain's next prime minister, Boris Johnson faces his successor as foreign secretary, Jeremy Hunt, in the final round of voting among the Conservative party membership to take over from Prime Minister Theresa May.
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