Read more on the story here.<\/a> <\/p>\n \u2014 Lim Hui Jie<\/p>\n Defense stocks falter<\/p>\n German Rheinmetall MAN tactical military transport vehicles parked in the Edvard Peperko military barracks.<\/p>\n Luka Dakskobler | Lightrocket | Getty Images<\/p>\n Regional defense stocks were lower on Monday as investors assessed the fallout of the U.S. joining Israel’s strikes on Iran.<\/p>\n The Stoxx Europe Aerospace and Defense index was last seen around 0.5% lower, starting the week on a negative note after gaining 1.1% over the course of last week.<\/p>\n German defense giant Rheinmetall<\/a> was 1.7% lower during early trade, paring earlier losses, while Sweden’s Saab<\/a> shed 1.3% and France’s Thales<\/a> was down by around 0.8%.<\/p>\n Bucking the trend was Polish defense equipment manufacturer Lubawa<\/a>, which jumped 3.5% during early trade.<\/p>\n \u2014 Chloe Taylor<\/p>\n Dollar rises, yen falls<\/p>\n As markets digest the U.S. strikes on Iran over the weekend, the dollar is on the rise, while other currencies typically seen as safe havens have lost momentum.<\/p>\n The U.S. dollar index \u2014 which measures the greenback against a basket of major rivals \u2014 was 0.3% higher by 8:25 a.m. in London. So far this year, the dollar index has shed around 8.8%.<\/p>\n Stock Chart IconStock chart icon Dollar index price.<\/p>\n The safe haven Swiss franc was flat against the dollar during early European trade, paring gains seen ahead of the regional open.<\/p>\n Meanwhile, the Japanese yen \u2014 also typically seen as a safe haven during times of geopolitical or macroeconomic uncertainty \u2014 lost ground. The Japanese currency shed 0.7% against the dollar on Monday morning, 0.5% against the euro and 0.7% against the British pound.<\/p>\n Stock Chart IconStock chart icon Japanese yen price.<\/p>\n Market watchers noted on Monday that the yen would come under pressure if the Strait of Hormuz, a waterway crucial to the transit of oil, is closed.<\/p>\n “Eyes are on how Iran would retaliate \u2014 a potential withdrawal from its cooperation with the International Atomic Energy Agency and abandon the Nuclear Nonproliferation Treaty,” analysts at Maybank said in a Monday morning note. “Risk sensitive (AUD, NZD, CAD) and net oil importers (KRW, JPY, TWD, PHP, INR) could continue to remain under pressure.”<\/p>\n “We think USD\/JPY works as a hedge against\u00a0an\u00a0escalation in\u00a0geopolitical\u00a0tension in the Middle East\u00a0with positive carry,” analysts at Bank of America said in a Friday note.<\/p>\n “The US is\u00a0largely\u00a0energy-independent. Japan imports almost all of petroleum\u00a0it needs\u00a0and more than 90% of\u00a0its petroleum imports come from the Middle East, the highest dependency among G10 economies.\u00a0USD\/JPY can reprice higher if the oil price remains elevated.”<\/p>\n \u2014 Chloe Taylor<\/p>\n Jeep maker Stellantis whipsaws in early deals<\/p>\n Alongside taking the reins, Stellantis said, Antonio Filosa will retain his role as head of North America and American brands.<\/p>\n Etienne Laurent | Afp | Getty Images<\/p>\n Milan-listed shares of Stellantis<\/a> fell nearly 6% shortly after the opening bell, before swiftly paring some of its losses after a brief trading suspension. The stock was last seen trading down 2.1%.<\/p>\n That comes shortly after new CEO Antonio Filosa announced<\/a> the firm’s new management team on his first day in the job.<\/p>\n “It is my great privilege to take the lead of Stellantis, a global company with deep regional roots,” Filosa said in a statement.<\/p>\n Alongside taking the reins, the company said, Filosa will retain his role as head of North America and American brands.<\/p>\n Stellantis chief financial officer Doug Ostermann will take on responsibility for mergers and acquisitions and joint ventures, while Jean-Philippe Imparato continues in his role as head of enlarged Europe and European brands, which will now also include the struggling luxury Maserati unit<\/a>.<\/p>\n \u2014 Sam Meredith<\/p>\n European stocks open lower<\/p>\n We’re 10 minutes into Monday’s trading session, and European shares are trading lower as the Middle East conflict \u2014 and America’s involvement in it \u2014 remains in focus.<\/p>\n The pan-European Stoxx 600 was last seen 0.4% lower, with every sector barring oil and gas in negative territory. All major bourses are in the red, with France’s CAC 40<\/a>, down 0.7%, leading losses.<\/p>\n \u2014 Chloe Taylor<\/p>\n Why global markets are brushing off U.S. strikes on Iran<\/p>\n US President Donald Trump addresses the nation, alongside US Vice President JD Vance (L), US Secretary of State Marco Rubio (2nd R) and US Secretary of Defense Pete Hegseth (R), from the White House in Washington, DC on June 21, 2025, following the announcement that the US bombed nuclear sites in Iran.<\/p>\n Carlos Barria | Afp | Getty Images<\/p>\n The U.S. joining the war between Israel and Iran might seem like a geopolitical flashpoint that would send markets tumbling. Instead, investors are largely shrugging off the escalation, with many strategists believing the conflict to be contained \u2014 and even bullish for some risk assets.<\/p>\n Read more here.<\/a><\/p>\n \u2014 Lee Ying Shan<\/p>\n Here are the opening calls<\/p>\n London at dawn. <\/p>\n Dukas | Universal Images Group | Getty Images<\/p>\n Good morning from London, and welcome to CNBC’s live blog covering European financial markets and the latest regional and global business news, data and earnings.<\/p>\n Futures data from IG suggests a choppy start for European markets, with London’s\u00a0FTSE<\/a>\u00a0looking set to open 0.3% lower at 8,747, Germany’s\u00a0DAX<\/a>\u00a0down 0.4% 23,222, France’s\u00a0CAC 40<\/a>\u00a00.5% lower at 7,536 and Italy’s\u00a0FTSE MIB<\/a> 0.6% lower.<\/p>\n Global market sentiment could plummet further this week after the United States entered Israel’s war<\/a>\u00a0against Iran over the weekend, launching strikes against three nuclear sites in Fordo, Isfahan and Natanz. The move by U.S. President Donald Trump surprised investors because he had said last Friday that he would make a decision to attack Iran “within the next two weeks,” according to the White House.<\/p>\n The latest attacks caused oil prices to rise further<\/a> and have stoked fears of a wider conflict in the Middle East. Asia-Pacific markets<\/a> declined overnight, while U.S. stock futures<\/a> fell ahead of Monday’s session.<\/p>\n \u2014 Holly Ellyatt<\/p>\n What to watch for today<\/p>\n Global markets will be on edge, given the escalation in the Middle East over the weekend, as a further spike in oil prices could be on the cards.<\/p>\n In Europe, flash purchasing managers’ index data, showing business activity in the services and manufacturing sectors, is due Monday morning.<\/p>\n There are no other major earnings or data releases.<\/p>\n \u2014 Holly Ellyatt<\/p>\n","protected":false},"excerpt":{"rendered":"Iran\u2019s parliament backs blocking Strait of Hormuz A cargo ship cruises toward the Strait of Hormuz off the…\n","protected":false},"author":2,"featured_media":207315,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[5189,51,3085,5191,16,15],"class_list":{"0":"post-207314","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-europe","9":"tag-business","10":"tag-business-news","11":"tag-stoxx-600","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114731990655785993","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/207314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=207314"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/207314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/207315"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=207314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=207314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=207314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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