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EUROPE BEFORE THE BELL: FUTURES RALLY AS CRUDE OIL DROPS
European shares were set for a strong rebound on Tuesday as oil prices dropped well below $100 after U.S. President Donald Trump said the Middle East war could be over soon, though Iran’s military signalled it would continue fighting.
Euro STOXX 50 STXEc1 and DAX futures FDXc1 both rose around 2%, while FTSE contracts added over 1%. Traders expected a relief rally in airlines, which had been heavily hit by the recent oil price spike, while energy and defence stocks were seen coming under pressure.
On German platform Tradegate, shares in EasyJet EZJ.L, Lufthansa LHAG.DE, Carnival CCL.L and TUI TUI1n.DE rose between 4% and 6%. Equinor EQNR.OL, BP BP.L, Shell SHEL.L and Eni ENI.MI fell between 2.4% and 5.7%.
In corporate news, Volkswagen VOWG.DE forecast easing margin pressure this year after its 2026 operating profit more than halved, while Renault said it was targeting a 23% increase in sales volumes by 2030. Hugo Boss BOSSn.DE beat profit expectations for 2025.
U.S. futures were up slightly after a late rebound on Monday following Trump’s remarks. Brent crude was last down more than 8% at $90.9 a barrel, after surging as high as $119.50 on Monday.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
TRUMP SAYS WAR IS 'VERY COMPLETE' - IRAN HAS OTHER IDEAS CLICK HERE
