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Live Markets: Europe before the bell: futures holding steady

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EUROPE BEFORE THE BELL: FUTURES HOLDING STEADY

European stock futures are struggling for direction before the cash open on Monday after Iran-U.S. peace talks stalled over the weekend, suggesting Middle East oil supplies will remain disrupted in the near term.

However, Axios reported that Iran has given the U.S. a new proposal to reopen the Strait of Hormuz and lift the U.S. naval blockade.

For now, the uncertainty is leaving stock futures hovering around the unchanged mark.

Euro STOXX 50 futures STXEc1 are little changed. DAX FDXc1 and CAC FCEc1 futures are up slightly and FTSE futures FFIc1 are a touch softer.

Energy prices are firmer, with Brent crude LCOc1 back above $107.50.

In corporate news, onshore wind turbine maker Nordex shares are called to open higher after reporting better-than-forecast core earnings in the first quarter.

 Meanwhile, French automotive equipment supplier Forvia FRVIA.PA announced it is to sell its interiors business to Apollo for 1.82 billion euros.

(Samuel Indyk)

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