European equity markets were poised to open lower on Wednesday, paring some of the previous session’s gains as investors weighed escalating tensions in the Middle East, which have pushed oil prices higher. The US carried out another round of strikes against Iran and reinstated a naval blockade of Iranian ports near the Strait of Hormuz, stoking renewed concerns over regional stability and energy supplies.
At the same time, softer-than-expected US inflation data has tempered expectations of an imminent Federal Reserve interest rate hike, offering some support to global equity sentiment. In Europe, attention will turn to Eurozone industrial production figures and final Spanish inflation data, while the corporate earnings calendar remains relatively sparse. In premarket trading, Euro Stoxx 50 futures were down 0.1%, and Stoxx 600 futures slipped 0.2%.
