European markets set to open lower as French political upheaval drags on.
European markets are expected to open lower on Friday, as investors in the region digest the latest political developments in France.
Following a vote that toppled French Prime Minister Michel Barnier’s minority government on Wednesday evening — a motion backed by both left and right-leaning lawmakers after Barnier forced his contested budget through parliament without a vote — the country’s President Emmanuel Macron gave a defiant speech criticizing politicians for not thinking about “the voters.”
He insisted he would see out the remainder of his presidency, which will see him stay in office until 2027.
Barnier resigned from his post Thursday morning, but will continue in a caretaker role while Macron selects a replacement.
The euro was marginally lower against the dollar before the European opening bell following a rise in the previous session. At 6:21 a.m. London time it was trading around $1.0574.
n Asia, markets were mixed, with traders monitoring political instability in South Korea following President Yoon Suk Yeol’s brief imposition of martial law.
Across the Atlantic, investors are looking ahead to the publication of U.S. nonfarm payroll figures, which are expected to have increased in November.(Cay)
Source: CNBC
