European markets head for higher open as traders track Greenland, Iran news
European markets are poised for a positive opening on Thursday as investors continue to assess the geopolitical climate, with key developments surrounding Greenland and Iran in focus.
Market Outlook
According to data from IG, major indices are expected to open higher: the U.K.’s FTSE 100 is projected to gain 0.6%, Germany’s DAX up 0.18%, France’s CAC 40 up 0.2%, and Italy’s FTSE MIB up 0.34%.
Key Geopolitical Developments
A high-stakes meeting between U.S., Danish, and Greenlandic officials concluded on Wednesday with a "fundamental disagreement" over the future of the Arctic island, though both sides committed to continuing dialogue. President Donald Trump has repeatedly asserted the territory is critical for U.S. national security and has threatened to seize it by force if necessary, stating on social media that anything less than Greenland becoming part of the United States is "unacceptable."
Tensions with Iran also remain in focus. While President Trump softened his tone Wednesday night, stating he had been assured executions of protestors had stopped and that he would "watch it and see" regarding potential military action, the situation remains fluid. Iran reopened its airspace early Thursday after a temporary closure.
Corporate and Economic Data
On the corporate front, luxury conglomerate Richemont reported a third-quarter sales increase of 4% year-on-year to 6.4 billion euros ($7.4 billion), with sales jumping 11% at constant exchange rates. The company saw strong growth across most markets, notably in the U.K. and Italy.
Economic data scheduled for release includes U.K. GDP figures for November, Spanish and French inflation numbers, and EU trade balance data.
