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European stocks seen lower as US-Iran tensions fuel safe haven buying

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European stocks are set to open lower on Monday, as investors monitor rising tensions between the United States and Iran.

Britain's FTSE 100 is seen falling 34 points to 7,580, Germany's DAX slumping 110 points at 13,092, and France's CAC dropping 43 points to 5,983, according to IG index data.

Market players are fleeing riskier assets like equities in favor of safer alternatives like gold and bonds after a U.S. airstrike last week killed Iran's top military commander, Qasem Soleimani, heightening already-volatile relations between Washington and Tehran. Oil is also surging on the back of intensifying U.S.-Iran tensions. Brent crude futures were up 2.7%, or $1.86, at $70.46 a barrel at 4:36 a.m. London time. U.S. West Texas Intermediate crude futures climbed 2.4%, or $1.49, to $64.54.

 

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'Britain's FTSE 100 is seen falling 34 points to 7,580, Germany's DAX slumping 110 points at 13,092, and France's CAC dropping 43 points to 5,983, according to IG index data.'

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