European Markets Set for Weak Open Ahead of US Election
European stocks are headed for a weak start to the trading day as global markets prepare for Tuesday’s US presidential election, with the outcome of the vote looking too close to call between former President Donald Trump and current Vice President Kamala Harris.
The UK’s FTSE 100 is expected to open 15 points lower at 8,177, Germany’s DAX is down 12 points at 19,149, France’s CAC is down 1 point at 7,374 and Italy’s FTSE MIB is up 73 points at 34,358, according to data from IG.
Earnings are due to come from Saudi Aramco, Adecco, Schaeffler, Deutsche Post DHL, Zalando, Hugo Boss, Bouygues, Ørsted, Vestas Wind and Fresenius Medical Care.
Market attention will be focused on which party dominates Congress as a result of the U.S. elections, as a big win by either Republican or Democrat could lead to drastic spending changes or a major overhaul of tax policy.
Source: CNBC