FX.co ★ European Stocks Head for Lower Open

European equity markets were poised to open lower on Friday as a global selloff in semiconductor stocks accelerated, fueled by growing worries over heavy AI-related capital expenditure and increasingly stretched valuations. Investors also continued to weigh the implications of the intensifying confrontation between the US and Iran, which has driven oil prices higher and kept inflation and interest rate risks firmly in focus. In Europe, markets will be watching the final June inflation figures for the Eurozone, as well as current account data for both the euro area and Italy. On the corporate front, investors will track earnings releases from Novartis, Burberry Group, Volvo, Swedbank, Danske Bank, and others. In premarket trading, Euro Stoxx 50 futures were down 0.9%, while Stoxx 600 futures fell 0.7%.