European Markets Set For Higher Open But France’s Political Upheaval Is Closely Watched
European markets are expected to open higher Tuesday, with investors keeping an eye on political upheaval in France this week.
The U.K.’s FTSE 100 index is expected to open 18 points higher at 8,322, Germany’s DAX up 15 points at 19,922, France’s CA Cup 29 points at 7,245 and Italy’s FTSE MIB up 43 points at 33,601, according to data from IG. Data releases Tuesday include U.K. retail sales and Spanish unemployment figures.
France’s financial markets will be closely watched Tuesday after Prime Minister Michel Barnier turned to special constitutional powers to pass a contested budget bill without a parliamentary vote. Opposition parties on both the left and right say they will back a no-confidence vote to bring Barnier’s minority government down. The vote could take place Wednesday.
The French CAC 40 index recorded a choppy session on Monday, starting the day lower before turning positive and then tumbling back into negative territory again.
Overnight, Asia-Pacific markets traded higher, tracking gains on Wall Street after the S&P 500 and the Nasdaq Composite rose to new records overnight. U.S. stock futures were near flat Monday night.(Cay)
Source: CNBC
