(Il Sole 24 Ore Radiocor) - Milano, 18 mag - European share prices were mostly lower at midday as a combination of geopolitical instability and a sharp shift in monetary policy expectations pressured global markets. Sentiment remains strained following weekend drone strikes on a UAE nuclear facility and warnings from US president Donald Trump that "the clock is ticking" for Tehran to reach a settlement.

The market mood has soured as investors adjust to the prospect of interest rates remaining at restrictive levels for a longer duration under the new Federal Reserve chair, Kevin Warsh.

However, London's FTSE 100 bucked the trend to trade in the green, supported by gains in heavyweight oil and tobacco stocks.

The pressure on equities is being exacerbated by rising energy prices, which have fortified market expectations of a potential rate hike this year.

At 0945 GMT, London's FTSE 100 was up 0.22% at 10,217.67 points, while in Frankfurt the DAX was 0.34% lower at 23,873.50 points and in Paris the CAC 40 fell 0.94% to 7,877.67 points. Milan's FTSE MIB lost 1.92% to 48,173.50 points while in Madrid the IBEX 35 was 0.29% lower at.

17,541.39 points.

(RADIOCOR) 18-05-26 11:45:35 (0230) 5 NNNN