Live Markets: Before the bell: Europe up, oil keeps markets on edge

UBS AG

28/09/2026 07:49

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BEFORE THE BELL: EUROPE UP, OIL KEEPS MARKETS ON EDGE
European stock futures were modestly higher on Monday, though surging oil prices and rising bond yields could limit gains after US President Donald Trump rejected an Iranian proposal aimed at reopening the Strait of Hormuz.
Euro STOXX 50 .STOXX50E, DAX .GDAXI and FTSE .FTSE contracts rose around 0.2%, while shares in Asia fell and U.S. futures signalled a tech-led decline later on Wall Street.
Nasdaq futures dropped 0.8% as higher energy prices kept expectations of further tightening elevated, with markets still pricing in an over 70% chance of a 25-basis-point rate hike at the Fed's October meeting, according to CME's FedWatch tool.
Brent crude held firmly above $107 a barrel.
In Europe, early trading indications suggested weakness in the semiconductor sector, with Infineon IFXGn.DE, ASML ASML.AS and STMicro STMPA.PA down more than 1% in premarket trading, partly offset by gains in oil and gas stocks. Defence shares were also under pressure.
UBS UBSG.S remained in focus after reports that several major foreign banks had expressed interest in a potential combination with the Swiss lender, which faces tougher capital requirements at home. Its shares inched lower on Tradegate.
Rising U.S. rate hike expectations weighed on gold prices, putting pressure on precious-metals miners.
(Danilo Masoni)
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