European Stocks Open Monday Lower After French PM Resignation
(MENAFN) European equities opened sharply lower Monday amid escalating geopolitical friction and deepening political unrest in France.
By 0840 GMT, the Stoxx Europe 600 index had dropped 0.38% to 568.3 points, with France’s CAC 40 bearing the brunt of losses—plunging 1.94% to 7,924.69.
Germany’s DAX 40 and the UK’s FTSE 100 each retreated 0.1%, trading at 24,356.41 and 9,482.16 points, respectively.
Southern European markets also faced pressure, with Italy’s FTSE MIB 30 slipping 0.67% to 42,970.43 and Spain’s IBEX 35 down 0.42% at 15,519.6 points.
Investor confidence took a hit after fresh turmoil in France’s political landscape. The collapse of François Bayrou’s government, triggered by a failed confidence vote in the National Assembly, was swiftly followed by the appointment of Prime Minister Sébastien Lecornu on September 9. Yet Lecornu’s unexpected resignation just hours later further destabilized the region.
Heightened geopolitical tensions compounded the uncertainty. Incursions by Russian aircraft into European airspace have escalated anxieties, while ongoing conflict in Ukraine and potential new sanctions remain key focal points for market watchers.
The combined pressure from political and geopolitical fronts is clearly rattling European markets as investors weigh growing risks.
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