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[MARKET ANALYSIS] European bourses are subdued amidst US-Iran flare ups

European markets are feeling the weight of heightened tensions following recent US-Iran confrontations, evidenced by a broad decline across sectors.

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[MARKET ANALYSIS] European bourses are subdued amidst US-Iran flare ups

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  • European bourses (STOXX -0.8%) are entirely in the red, with sentiment today pressured by recent flare-ups between US-Iran, whereby US struck Iranian ports which led to retaliatory attempts from the Iranian side. Following the attacks, President Trump attempted to downplay the attacks calling them nothing but a “love tap”, noting that the ceasefire remains in place.
  • European sectors are entirely in the red, display a market fearful of the current geopolitical environment; with cyclical sectors (Travel & Leisure/Consumer Products) residing at the foot of the list, whilst Energy is amongst the top performers.
  • As for key movers this morning: Commerzbank (-0.5%, in-line metrics, raised targets and plans to cut 3k jobs), IAG (-2.7%, strong metrics but cut FY26 capacity outlook; sees strong demand), Intertek (-3%, rejects EQT’s GBP 9bln offer).
  • US equity futures are broadly modestly firmer this morning, in contrast to the downbeat mood in Europe. In terms of key pre-market movers: CoreWeave (-6.6%, Q1 profit miss, Q2 revenue guidance missed expectations, and it raised capex forecasts), Gilead (-0.8%, mixed guidance, despite beating Q1 sales expectations).
Context

The geopolitical anxiety is notably impacting cyclical sectors like Travel & Leisure, while Energy shows relative resilience. This backdrop may influence investor sentiment in both European and US markets, likely heightening volatility and risk aversion in the near term.

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