As markets fear an escalation of the war in Iran after the threat of new military strikes brandished by US President Donald Trump, European stock markets are expected to open sharply lower on Thursday.
  

Hotel group Accor announced on Wednesday evening that it had signed a memorandum of understanding to sell its 30.56% stake in Essendi (formerly AccorInvest) to a consortium consisting of Blackstone and Colony IM for an amount of up to 975 million euros.
Logistics platform specialist real estate company Argan confirmed on Wednesday evening that it aims for 4% growth in rental income in 2026, after this indicator rose by 3% in the first quarter.

Luxury group Kering has finalized the sale of a building located in Milan's fashion district for 729 million euros. Ownership of the building at 8 via Monte Napoleone has been transferred to a joint-stock company 80% controlled by the Qatari investment fund Al Mirqab Group. Kering, however, retains 20% of the shares in this vehicle and its stake will be accounted for using the equity method.
  

Around 7:40 AM, the CAC 40 futures contract was down 1.5%, according to data from broker IG.

As fears of an escalation of the conflict in the Middle East continue to drive up oil prices, European stock market futures contracts are sharply lower on Thursday morning, on the eve of the long Easter weekend.

According to data from broker IG, the DAX 40 futures contract in Frankfurt was down 1.8%, while the FTSE 100 in London was down 0.8%, around 7:40 AM.

In a speech on Wednesday evening, Donald Trump stated that the United States had succeeded on the battlefield and that its military objectives would be achieved "very soon."

Donald Trump also stated that US allies who depend on Middle Eastern oil should "go into the Strait [of Hormuz] and just take it, protect it, use it for themselves."

According to the global economic research department of Commonwealth Bank of Australia, "the idea that a quick resolution will allow a return to pre-conflict relations and a normalization of maritime traffic in the Strait of Hormuz is not credible."

Around 7:40 AM, New York Stock Exchange futures contracts were sharply lower. The Dow Jones index futures contract lost 1.2%, the Nasdaq 100 futures contract dropped 1.8%, and the S&P 500 futures contract fell 1.4%. On Wednesday, the New York Stock Exchange closed higher despite Donald Trump's martial-toned statements.  
In Asia, the Nikkei index of the Tokyo Stock Exchange lost 2.5% late Thursday. The Shanghai Composite index fell 0.8%, while the Hang Seng of the Hong Kong Stock Exchange was down 1.4%.

On the trade front, the Trump administration is preparing to redefine its steel and aluminum tariff regime, by modifying duties on finished products to simplify compliance for businesses, according to sources cited by the Wall Street Journal.
Under a presidential proclamation that could be issued this week, finished products made with steel and aluminum would be subject to a 25% tariff. This rate would replace the current 50% duty, which only applies to the value of the steel or aluminum used in a product. The 50% tariff for basic steel and aluminum products - goods that are almost entirely made of these metals - would remain in effect.
  

The two-year bond yield rose by 5.8 basis points, to 3.87%. Around 7:40 AM, the yield on the US ten-year Treasury bond rose by 6.5 basis points, to 4.39%.
  

The dollar gained 0.4% against the Japanese currency, to 159.41 yen. Around 7:40 AM, the euro lost 0.6%, to 1.1529 dollars.
  

This morning, after falling at the start of trading in Asia, oil futures contracts rose again. Around 7:40 AM, the June contract for North Sea Brent crude traded in London gained 6.14 dollars, or 6%, to 107.30 dollars per barrel. The May contract for light sweet crude (WTI) traded on Nymex rose by 5.28 dollars, or 5%, to 105.40 dollars per barrel.   

Stephen Innes, manager at SPI Asset Management, believes that the market "had moved based on anticipation, but when Donald Trump spoke, he did not validate that future. He disrupted it."

Stephen Innes indicates that "oil therefore did what oil always does when the illusion cracks. It surged, not because the war suddenly worsened, but because the market had prematurely priced in the prospect of an imminent end to the conflict."