European stocks are expected to open in mixed territory
Istanbul, July 9 (Hibya) - European stocks are expected to open in mixed territory on Tuesday as investors in the region consider the political uncertainty in France following Sunday’s election result.
European markets are digesting the prospect of a prolonged period of political uncertainty in France. Following Sunday’s parliamentary election result, the country faces a hung parliament.
The left-wing New Popular Front emerged as the winner in the final voting round, thwarting the far right's anticipated rise. However, their failure to secure an absolute majority means a coalition or technocratic government is likely. This could pose challenges in passing legislation and reforms, potentially impacting the market.
Analysts predict a mixed start for the European stock market. The U.K.’s FTSE index is expected to open 5 points higher at 8,203, Germany’s DAX down 45 points at 18,443, France’s CAC 40 down 18 points at 7,620, and Italy’s FTSE MIB down 32 points at 34,145.
Overnight, Asia-Pacific markets were mostly higher on Tuesday. U.S. stock futures changed slightly on Monday night after the S&P 500 and Nasdaq Composite closed at fresh record highs.
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