Russian stocks and the ruble fell as investors reacted cautiously to upcoming negotiations between Russia and Ukraine in Istanbul.
Russian financial markets opened lower as delegations from Moscow and Kyiv prepare to meet in Istanbul for a new round of peace talks.
The Moscow Exchange (MOEX) Index dropped by 1.3%, slipping below 2,793 points, while the RTS Index declined by 1.28% to 1,119 points. The ruble also weakened slightly, with the USD/RUB exchange rate rising 0.27% to 79.3.
Analysts attributed the market downturn to investor skepticism over the outcome of the negotiations, particularly in light of recent Ukrainian strikes on Russian military airbases.
Market sentiment remains fragile, with participants watching closely for any signs of progress in the talks that could influence geopolitical risk and economic outlooks.
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Iranian Foreign Ministry Spokesperson Esmaeil Baghaei has said Tehran is not currently involved in direct talks with Washington about reopening the Strait of Hormuz. U.S. President Donald Trump said negotiations with Iran were to begin on Monday.
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Two firefighting helicopters collided while battling a major wildfire in Greece on Sunday, killing two crew members as emergency services continued efforts to contain fires fuelled by extreme heat and dry conditions across Europe.
French Prime Minister Sebastien Lecornu said wildfires that swept across France were now under control. Authorities warned that risks remained as Greece and Spain continued battling active blazes across parts of Europe.
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
SK Hynix reported record quarterly profit on Wednesday, but its shares slumped 10 per cent after the South Korean chipmaker fell short of investor expectations built around the artificial intelligence (AI) boom.
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China's Foreign Ministry has said it is closely monitoring the United Kingdom's nationalisation of British Steel. Prior to the British government fully taking over the loss-making company on Thursday, it was previously owned by Chinese private steelmaker Jingye.
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