European markets expected to open lower after EU election
Istanbul, June 10 (Hibya) - European stocks are expected to open lower on Monday as traders react to initial results from the EU Parliament elections, which suggest far-right parties have surged in popularity.
The U.K.’s FTSE index is seen 57 points lower at 8,193, Germany’s DAX 45 points lower at 18,507, France’s CAC 40 down 45 points at 7,952 and Italy’s FTSE MIB 60 points lower at 34,629.
Regional markets will focus on the results of the EU parliamentary elections, which took place over the last few days. Initial results show populist, far-right parties could have a more giant hand in European policymaking over the next five years.
The EU election drama was rounded off Sunday evening when French President Emmanuel Macron called snap parliamentary elections after a heavy defeat in the EU vote later this month.
Regional investors will also be looking ahead to the following U.S. inflation data on Wednesday, as well as the next meeting of the U.S. Federal Reserve. Both come after a stronger-than-expected U.S. jobs report last Friday revealed hiring and wage growth picked up in May.
Asia-Pacific markets were mixed overnight, with a few markets closed for a holiday Monday, including Australia, mainland China, Hong Kong and Taiwan. Meanwhile, U.S. stock futures changed a little on Sunday night after a winning week.
On Friday, the S&P 500 ended flat on Wall Street after touching a record-high intraday. The Dow Jones Industrial Average slipped 0.22 percent, and the Nasdaq Composite edged down 0.23 percent.
Despite the losses, all three major averages notched a winning week. The Dow posted a 0.29 percent gain, the S&P 500 added nearly 1.32 percent and the Nasdaq advanced 2.38 percent for the week.
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