EU Market Open: Europe primed for a weaker open as the US and Iran exchange fire

US attacked two missile launchers of the IRGC on Larak Island on Sunday, which were said to be on standby to launch missiles with sea mines toward the Strait of Hormuz.Iran's Revolutionary Guards later announced that they retaliated with missiles and drones against two US bases in Jordan and warned that any attack against them will be met with a more devastating response.Crude futures gapped higher at the open amid the geopolitical escalation in the Middle East; FX and Fixed Income did not react to the rise in oil.APAC stocks were mostly lower heading into month-end; European equity futures indicate a lower cash market open.Looking ahead, highlights include German Inflation Flash (Aug). Supply from the EU; UK Summer Bank Holiday (desk remains open as usual).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk