Live Markets: Weak start

UBS AG

15/09/2026 09:15

Adds new blog entry
STOXX 600 down 1%, 3-month low
Oil prices rise 2%
Dollar, global bond yields up 
Banks weak
Wall Street futures drop
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WEAK START
Major European stock indexes are weak on Tuesday as elevated energy prices and rising bond yields continued to weigh. 
The pan-continental STOXX 600 .STOXX is down 1%, adding to a 0.5% drop on Monday. Major bourses in Frankfurt .GDAXI, Paris .FCHI and London .FTSE are down between 0.9% and 1%.
Broadly, focus is on the ongoing energy supply disruptions in the Middle East and stalled talks to reopen the Strait of Hormuz to maritime traffic. 
That has pushed oil prices higher and helped global bond yields reach fresh multi-year highs on Tuesday, as markets price in further tightening from global central banks. 
Banks .SX7P tend to benefit from higher yields but are actually the weak spot in Europe, hindered by comments from Bank of America CEO Brian Moynihan after he said sales and trading revenue will be flat in the third quarter.
UBS UBSG.S, Barclays BARC.L and Deutsche Bank DBKGn.DE are down between 2.3% and 5%. 
Aerospace and defence stocks .SXPARO are the rare pocket of strength, helped by reports that Japan is eyeing a boost to defence spending and that the Pentagon was looking to replenish stockpiles. 
Here's your opening snapshot: 
(Samuel Indyk)
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EARLIER ON LIVE MARKETS:
EUROPE BEFORE THE BELL: SLIGHTLY SOFTER CLICK HERE 
TRUMP SAYS HIT THAT BRAKE; NO, NOT THAT ONE CLICK HERE