European stock markets fall due to lack of parliamentary majority in France

European stock markets fall due to lack of parliamentary majority in France
European stock markets fall due to lack of parliamentary majority in France

July 8 (Reuters) – European stocks fell on Monday as France prepares for a hung National Assembly, while U.S. and euro zone data this week will be in focus for further clues on the direction of global monetary policy.

The pan-European STOXX 600 index was down 0.1 percent by 0711 GMT, led by losses in energy stocks after oil prices fell.

French stocks fell 0.4 percent, the biggest drop among European peers, as France faced a hung National Assembly and the prospect of tax talks starting Monday to form a government after a surprise left-wing surge blocked Marine Le Pen’s bid to bring the far right to power.

The main economic event of the week will be the consumer price index (CPI) data from the US and Germany, which will determine the future path of interest rate cuts.

Britvic rose 4.7% after the soft drinks maker said it had agreed to be acquired by Carlsberg for 3.3 billion pounds ($4.23 billion), after the Danish brewer sweetened its offer.

Delivery Hero fell 16.5% to the bottom of the STOXX 600 index after announcing that Brussels could fine it more than 400 million euros for violating antitrust rules.

(Reporting by Shubham Batra in Bengaluru; editing by Mrigank Dhaniwala)

 
For Latest Updates Follow us on Google News
 

-

PREV Hungarian GP 2024: Barça’s Verstappen: “It’s going to be a difficult year, if you see how Real Madrid is strengthening…”
NEXT Mexican Football Federation will wait for Jimmy Lozano’s final report to decide on his future