FX.co ★ European Stocks Head for Higher Open

European equity markets were set to open higher on Thursday after three consecutive sessions of losses, as investors continued to weigh mounting tensions in the Middle East. The US military confirmed that it had conducted strikes on Iran for a second straight day, aiming to degrade Tehran’s capacity to threaten shipping through the Strait of Hormuz. In response, Iran warned of a large-scale retaliatory operation targeting US military bases across the region.

In Europe, data showed that Germany’s trade surplus widened to €19.1 billion in May from €14.5 billion in April, driven by rising exports alongside declining imports. Meanwhile, there are no major corporate earnings announcements scheduled in Europe today. In premarket trading, futures on the Euro Stoxx 50 and Stoxx 600 rose 1.1% and 0.8%, respectively.