Live Markets: Before the bell: Europe weaker, energy stocks up

SAP SE

31/08/2026 07:46

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BEFORE THE BELL: EUROPE WEAKER, ENERGY STOCKS UP
European futures fell on Monday as fresh fighting between the U.S. and Iran boosted oil prices and helped drive bond yields to new multi-year highs after hawkish comments from Fed Chair Kevin Warsh on Friday raised the likelihood of policy tightening.
While London markets .FTSE were shut for a holiday, likely reducing activity, Euro STOXX 50 .STOXX50E and DAX .GDAXI futures fell around 0.2%, while tech-heavy Nasdaq contracts NQc1 traded little changed.
Escalating Middle East tensions and surging bond yields capped an otherwise positive month for global stocks, underpinned by one of the strongest earnings seasons in years and renewed optimism around the artificial intelligence trade.
Europe's STOXX 600 .STOXX is up almost 1% so far in August and is on track for its fifth consecutive month of gains.
According to CME's FedWatch tool, markets are pricing in roughly a 60% chance of a quarter-point rate hike at next month's meeting, compared with around 40% before Warsh's speech.
Corporate news in the region was sparse. 
Energy stocks .SXEP rose in premarket trading and were set to help limit losses at the open. TotalEnergies TTEF.PA and Eni ENI.MI were among the top blue chip gainers on Tradegate, up around 0.7%, as Brent prices LCOc1 surged above $90 a barrel. 
Defence group Rheinmetall RHMG.DE added 1%, while software maker SAP SAPG.DE fell 1%.

(Danilo Masoni)
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