European Shares Set For Soft Start Ahead Of ECB Rate Decision

(RTTNews) - European stocks may open lower on Thursday amid U.S.-Iran tensions and interest-rate hike concerns. Technology stocks could be in focus after Oracle reported quarterly capital expenditure that exceeded estimates.

Brent crude futures traded over 1 percent higher above $95 a barrel, paring some earlier gains after the U.S. military said that it had 'completed' its latest round of airstrikes targeting Iran.

After the U.S. military launched a new wave of strikes on multiple targets in Iran, Tehran announced it would keep the Strait of Hormuz, a critical global energy shipping route, "completely closed to all type of vessels."

As energy prices take center stage, the European Central Bank (ECB) is set to raise interest rates for the first time since 2023 when it meets later today.

Across the Atlantic, the U.S. Federal Reserve is likely to keep rates on hold at the June 16-17 meeting, but traders see a greater likelihood of a hike as early as October.

Asian markets were mixed in cautious trade amid concerns over rising U.S.-Iran tensions and expectations that borrowing costs would remain higher for longer.

The dollar wobbled, while gold was a tad higher at $4,078 an ounce, after having hit a six-month low at $4,024 an ounce earlier.

U.S. stocks tumbled overnight as fresh U.S.-Iran military clashes cast doubt on the prospects for a peace deal and data showed consumer inflation soared to its highest level in three years in May, matching expectations.