European markets choppy as Israel-Iran attacks continue

Shares of France's Renault are down much than 7% aft the carmaker announced Sunday that manufacture seasoned Luca de Meo would measurement down arsenic CEO.

Kering shares meantime jumped 7%, amid reports that de Meo is heading to the French manner location next.

The determination — unconfirmed by Kering oregon de Meo — was nevertheless taxable of respective expert notes Monday, with Bernstein penning that the Kering occupation would align with the exec's forte for marque absorption and marketing. Read much from CNBC's Karen Gilchrist here.

Renault stock price.

Stoxx 600 index.

The main of Airbus expects much muted craft orders astatine this week's Paris Air Show arsenic defence concerns emergence to the fore and past week's deadly Air India crash casts a shadiness implicit the event.

"We are each nether this... the consequences, the interaction of the mishap of Air India. And evidently that's a atrocious concern to travel into an aerial show, which is expected to beryllium thing positive," Airbus CEO Guillaume Faury told CNBC's Phil LeBeau.

"Still, the momentum successful the manufacture is precise strong," helium continued. The 2023 Paris amusement — Europe's biggest aviation manufacture event, which is held connected alternating years with the U.K.'s Farnborough — was "exceptional" due to the fact that it came retired of a four-year pandemic lull, Faury noted. He nevertheless expects to spot "important" orders astatine this year's event, helium told CNBC.

"We spot besides precise antithetic concern erstwhile it comes to information and defense, and it's going to beryllium a amusement wherever a batch of planetary delegations volition beryllium present," helium added.

IBA has predicted manufacturers could spot betwixt 700 and 800 commercialized craft orders during the show, down from astir 1,300 successful 2023. Orders astatine past year's Farnborough were notably weaker, with proviso concatenation challenges continuing to plague the industry.

Crude lipid prices person been highly volatile arsenic traders show the latest from Israel-Iran airstrikes. At 7:43 a.m. London time, U.S. West Texas Intermediate futures were up 0.7% to $73.50 per barrel, and planetary benchmark Brent was up 0.46%, astatine $74.57 per barrel.

Oil prices closed much than 7% higher Friday successful the biggest single-day determination since March 2022, aft Israel launched a question of airstrikes connected Iran that it said were targeted astatine its atomic and ballistic rocket programs arsenic good arsenic its elder subject leadership.

U.S. crude lipid jumped 13% successful full past week, and was up different 3% connected Sunday.

Israeli unmanned aerial vehicles struck the South Pars state tract successful confederate Iran connected Saturday, according to Iranian state media reports.

WTI Crude futures.

It's a engaged week for investors and markets, with the U.S. Federal Reserve's adjacent involvement complaint determination owed Wednesday.

Fed funds futures are pricing successful a astir 97% likelihood of the cardinal slope keeping rates unchanged, arsenic per CME's FedWatch tool, despite U.S. President Donald Trump's continued unit connected Fed Chief Jerome Powell for a complaint cut.

Some cardinal gatherings and information releases volition besides beryllium watched intimately this week. The Paris Air Show kicks disconnected Monday, and past week's Air India catastrophe and flaring tensions successful the Middle East are apt to predominate conversations there. Meanwhile, the Group of Seven industrialized nations are gathering successful Canada for the adjacent fewer days.

On the information front, the ZEW survey of economical sentiment successful Germany and Europe volition beryllium released connected Tuesday and U.K. ostentation information is owed Wednesday.

We past person the Bank of England's monetary argumentation determination connected Thursday. Economists aren't expecting a complaint chopped astatine the meeting, with the slope highly apt to support its basal complaint astatine 4.25%.

— Holly Ellyatt

Good greeting and invited to CNBC's unrecorded blog covering European fiscal marketplace enactment and the latest determination and planetary concern news, information and earnings.

Futures information from IG suggests London's FTSE will unfastened 2 points little astatine 8,841, Germany's DAX down 42 points astatine 23,455, France's CAC 40 down 14 points astatine 7,664 and Italy's FTSE MIB 65 points little astatine 39,858.

Global markets connected Monday volition beryllium assessing escalating Israel-Iran tensions aft a play of tit-for-tat rocket attacks and airstrikes. Oil prices person risen arsenic a effect of the strikes, which person seen vigor facilities targeted, and golden prices person rallied arsenic investors sought a harmless haven asset.

— Holly Ellyatt