April 2, 2023

Great Indian Mutiny

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European markets as investors react to Macron's French victory

European markets as investors react to Macron’s French victory

LONDON – European shares are expected to open sharply lower on Monday as global markets continue to sell off into the new trading week.

United kingdom FTSE index The index is expected to open 94 points lower at 7,533, German Dax 241 points lower at 13901 and France CAC 40 It fell 72 points at 6,509, according to IG data.

Investors in Europe will also digest the expected outcome of the French presidential election on Monday, and keep an eye on the latest developments in Ukraine.

French Emmanuel Macron Looks like he will comfortably beat rival Marine Le Pen in Sunday’s electionand securing a second term as president is on his pro-business and pro-EU agenda.

Official results Centrist Macron of La Republique En Marche showed a 58.5% gain in the second and final round of voting. Le Pen of the nationalist and far-right National Rally party received nearly 42% of the vote.

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European investors continue to monitor developments in Ukraine as Russia’s invasion of the country enters its third month on Sunday. A conflict that has killed thousands and led to the worst refugee crisis in Europe since World War II.

Ukrainian Prime Minister Denis Shmyal said the war will not end unless Russian forces completely withdraw from the country.

Asia Pacific Markets It fell sharply on Monday after selling on Wall Street on Friday. US stock futures It declined Sunday amid a four-week losing streak for the Dow Jones Industrial Average as investors assessed the possibility of higher interest rates. Wall Street is also bracing for a stacked week of earnings, including reports from major tech companies like Amazon and Apple.

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Profits are due to come from Deutsche Boerse, Philips and Roche on Monday. Data releases will include Ifo’s latest business climate survey from Germany.

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CNBC’s Silvia Amaro, Sarah Main and Matt Clinch contributed to this market report.