European stocks lose ground after Israel launches air strikes on Iran

Charles Myers, laminitis and president of Signum Global Advisors, has warned that the U.S. volition participate the struggle betwixt Israel and Iran if immoderate U.S. subject bases are hit.

"Israel did spell somewhat rogue and against President Trump by launching this strike," helium told CNBC's "Squawk Box Europe" connected Friday.

"From here, I deliberation what truly matters is the effect from Iran. The shot is successful their court, if it is arsenic constricted arsenic it has been successful the past 2 times, deed conscionable connected Israel, this volition deescalate precise quickly. If they deed 1 U.S. base, the United States volition participate the war."

— Chloe Taylor

Shares of Air France KLM were past seen trading 4.6% lower.

The hose connected Friday suspended its flights to and from Tel Aviv, amid escalating subject enactment betwixt Israel and Iran.

"Following the closure of Israeli airspace, the hose has suspended its flights to/from Tel Aviv until further notice," a spokesperson for the hose said successful a connection translated by Google.

"Commercial measures are successful place, allowing customers with reservations for flights to/from Tel Aviv scheduled betwixt June 13 and June 17 inclusive to postpone oregon cancel their travel escaped of complaint ... The hose is perpetually monitoring the evolving geopolitical concern successful the territories served and overflown by its craft to guarantee the highest level of formation information and security."

— Chloe Taylor

Airline stocks are selling disconnected this morning.

Shares of Wizz Air were past seen 4.8% lower, aft the institution suspended its flights to and from Tel Aviv, and said it would reroute planes acceptable to transverse the airspace progressive successful the escalating struggle betwixt Israel and Iran.

"Due to the escalating concern successful the Middle East, and respective closed airspaces successful the region, Wizz Air has decided to suspend its operations to Tel Aviv arsenic of this greeting and reroute each of its flights (where possible) that were owed to overfly the affected airspaces for the adjacent 72 hours," a spokesperson for the Hungarian fund bearer said successful a connection connected Friday.

Norway's Norse Atlantic, down 4.2%, British Airways proprietor IAG, down 3.8%, and Finnair, down 3.7%, are besides among those experiencing the biggest losses successful the sector.

European hose stocks are besides inactive reeling from Thursday's fatal Air India crash, which sent the assemblage 3.4% little successful yesterday's session.  

— Chloe Taylor

Iran launched much than 100 drones toward Israeli territory Friday greeting after Israel's overnight rocket onslaught connected the country killed astatine slightest 3 of its elder subject leaders.

"We tin present corroborate that the Chief of unit of the Iranian Armed Forces, Commander of the IRGC and the Commander of Iran's Emergency Command were each eliminated successful the Israeli strikes crossed Iran," Israel Defense Forces spokesperson Effie Defrin said.

"Iran launched astir 100 UAVs towards Israeli territory, which we are moving to intercept."

Read much here.

— Natasha Turak

It's astir 20 minutes since the opening bell, and European shares are selling disconnected arsenic investors respond to Israel's strikes connected Iran successful the aboriginal hours of Friday morning.

The pan-European Stoxx 600 was past seen trading 1% lower, with each sectors but lipid and state successful antagonistic territory.

Oil prices surged connected Friday aft the escalation successful the Middle East sparked concerns astir supply.

Germany's DAX was down 1.4% successful aboriginal trade, portion the French CAC 40 was 1.1% little and London's FTSE 100 — coming disconnected of a grounds precocious — was down 0.5%.

— Chloe Taylor

Investors fled to safe-haven assets Friday aft a bid of Israeli airstrikes connected Iran marked a large escalation of struggle successful the region.

The standard of the attack, which Israel said was targeting Iran's atomic program, took markets by surprise, pushing up prices of assets thought to connection extortion successful times of heightened volatility.

"The quality has led to important fears astir an escalation and a wider determination conflict," Deutsche Bank strategists said successful a enactment aboriginal Friday. "The effects of the onslaught person cascaded crossed planetary markets, with a beardown risk-off determination for respective plus classes."

Read much here.

— Katrina Bishop

Crude lipid futures jumped arsenic overmuch arsenic 13% Thursday evening aft Israel launched airstrikes against Iran without U.S. support.

U.S. West Texas Intermediate was past up 8.23% astatine $73.65 per barrel, portion planetary benchmark Brent surged 7.96% to $74.88 per barrel, mounting them connected people for their largest single-day gains since 2020.

Israel launched a "targeted subject operation" against Iran's atomic and ballistic rocket program, Israel Prime Minister Benjamin Netanyahu said successful an address. Israel deed Iran's main enrichment tract astatine Natanz, its starring atomic scientists, and struck the bosom of its ballistic rocket program, Netanyahu said.

Read much here.

— Spencer Kimball, Lee Ying Shan

Good greeting from London.

European shares look acceptable to travel planetary stocks little today, arsenic investors show an escalating concern successful the Middle East.

Israel launched a bid of airstrikes successful Iran successful the aboriginal hours of Friday morning, sidesplitting the main of the Iranian Armed Forces arsenic good arsenic 2 of the country's starring atomic scientists.

Futures ties to the pan-European Stoxx 600 were past seen 1.2% lower, portion those linked to the German DAX scale are down 1.7%.

The FTSE 100, which closed astatine a grounds precocious connected Thursday, besides looks acceptable to determination lower, with futures tied to the scale down by 0.5%.

— Chloe Taylor