Live Markets: Europe before the bell: Futures soft as tensions ratchet up

Unicaja Banco SA

05/05/2026 07:31

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EUROPE BEFORE THE BELL: FUTURES SOFT AS TENSIONS RATCHET UP

European equity futures are slightly lower on Tuesday after the U.S. and Iran both launched new attacks in the Middle East, shaking the fragile truce.

The missile attacks came as both wrestled for supremacy of the Strait of Hormuz, a narrow waterway which saw 20% of global oil & gas supplies flow through it before the war.

     Euro STOXX 50 futures STXEc1 are down 0.2% after the index fell 2% on Monday.

Futures on the DAX FDXc1 and CAC FCIc1 are down 0.4% and 0.2%, respectively. FTSE futures FFIc1 are down 1.1%, playing catch up after British markets were closed on Monday for a public holiday.

 Away from Iran, earnings season is in top gear. HSBC HSBA.L recorded an unexpected $400 million loss linked to a fraud case in Britain, causing it to miss first-quarter profit estimates.

Other banks reporting this morning included UniCredit CRDI.MI, Sabadell SABE.MC and UniCaja UNI.MC.

German defence group Rheinmetall RHMG.DE said its first-quarter earnings rose 7.7% from a year earlier and maintained its full-year 2026 revenue and margin guidance.

(Samuel Indyk)

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Oil-tanker traffic through the Strait of Hormuz https://www.reuters.com/graphics/AUTOMATED-20260502/HORMUZ-TRANSITS-1Y/byvrnngjjve/chart.png

Crude oil at sea https://www.reuters.com/graphics/AUTOMATED-20260504/CRUDE-OIL-AT-SEA-1Y/akveyydbovr/chart.png