European markets are set to decline further as Middle East tensions weigh on sentiment – ​​NBC Los Angeles

This is a live blog from CNBC covering European markets.

European markets are set to open lower on Tuesday as investors closely monitor developments in the Middle East.

Geopolitical tensions are rising following Iran’s massive drone and missile attack on Israel on Saturday night. Israel has vowed to retaliate, but has suggested it may bide its time. Allies have called for calm and warned that an even bigger war could easily be sparked in the Middle East.

Asia-Pacific markets were sold as the world awaited Israel’s response to the weekend’s air attacks on Iran. Most major Asian markets fell about 2%. Data released on Tuesday showed China’s economy grew 5.3% in the first quarter from a year earlier, beating the 4.6% growth expected by economists polled by Reuters.

U.S. stock futures were little changed Monday night after a day of declines in major benchmarks.

Nasdaq Composite Index falls below 50-day moving average for first time since November

The major indexes resumed their decline on Monday, with the Nasdaq Composite Index down about 1.7%, below its 50-day moving average.

This is the first time since November 3, 2023 that the tech stock ratio has fallen below this important threshold. If the stock closes below this level, it will be the first time since November 2, 2023. The index is up more than 30% in 2023. Last 12 months.

The 50-day moving average is a technical indicator that traders look at to assess short-term trading trends. A closing price below this level can signal an upcoming downtrend for the asset.

— Darla Mercado, Nick Wells

CNBC Pro: These 10 oil stocks are most and least sensitive to price changes amid Iran-Israel tensions

Oil prices were volatile in April due to heightened geopolitical risks.

CNBC Pro screened stocks in the MSCI World Energy Index that are highly correlated or inversely correlated with the international benchmark Brent crude oil price over the past week, month, and year.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Oil markets ignored Iran’s attack.What happens next depends on Israel

Oil markets on Monday ignored Iran’s air attacks on Israel over the weekend, with both U.S. crude and global benchmarks settling slightly lower.

West Texas Intermediate’s May contract fell 25 cents, or 0.29%, to settle at $85.41 per barrel. Brent futures for June fell 35 cents, or 0.39%, to settle at $90.10 a barrel.

Markets had already priced in the risk of a telegraphed attack by Iran for several days, and traders breathed a sigh of relief after Israel and the United States intercepted nearly all of the missiles launched.

What happens next will depend on how Israel responds.

“In our view, what is not priced into the current market is the possibility of continued direct conflict between Iran and Israel,” Maximilian Leighton, Citi’s head of commodity research, said in a note to clients. Depending on how Israel responds to the attack, oil prices could exceed $100 a barrel, analysts wrote.

— Spencer Kimball

CNBC Pro: Morgan Stanley names global ‘alpha’ stock candidates for April, giving one stock more than 30% upside potential

Asian markets have had a mixed start to the year, with investors focusing on India, Japan and increasingly China.

Looking ahead, those looking for opportunities in the region can look to Morgan Stanley’s Alpha stocks. Alpha stocks are stocks that have the ability to beat the market.

CNBC Pro subscribers can read more here.

— Amara Balakrishna

European Market: Click here for opening call

European markets are set to open at Tuesday’s lows.

According to IG data, the UK’s FTSE 100 index is expected to open 87 points lower at 7,888, Germany’s DAX 214 points lower at 17,784, France’s CAC 96 points lower at 7,938 and Italy’s FTSE MIB. It is expected to open 422 points lower at 32,870.

Proceeds will come from Ericsson and LVMH. Germany’s ZEW business sentiment survey is released.

— Holly Ellyatt