European markets as investors react to France’s Macron win
LONDON — European stocks are expected to open sharply lower on Monday as the sell-off in global markets continues into the new trading week.
European investors will be also digesting Monday’s projected outcome of the French presidential elections and keeping an eye on developments in Ukraine.
France’s Emmanuel Macron looks set to have comfortably beaten his rival Marine Le Pen in Sunday’s electionHe secured a second term in office on his pro-business agenda and pro-EU agenda.
Official resultsThe second round of voting saw Macron, the centrist party of La Republique En Marche, win 58.5%. Le Pen from the National Rally, an extreme-right nationalist party, had nearly 42%.
European investors continue to monitor developments in Ukraine as Russia’s invasion of the country entered its third month on Sunday. The conflict that has killed thousands and led to the worst refugee crisis Europe has seen since World War II.
The war will end only if Russian troops fully withdraw from the country, Ukrainian Prime Minister Denys Shmyhal said.
Asia-Pacific marketsFollowing a Wall Street selloff on Friday, the Dow fell sharply Monday. U.S. stock futuresOn Sunday, the Dow Jones Industrial Average fell following a losing streak of four consecutive weeks. Investors were assessing the risk of rising interest rates. Wall Street also anticipates a busy week of earnings reports, which will include major tech companies like Amazon and Apple.
Deutsche Boerse and Philips will release earnings on Monday. Roche, Roche and Philips also have earnings. Data releases include the latest Germany business climate survey, Ifo.
This article was enjoyable?
CNBC Global Livestream: Exclusive stock picks and investment ideas
Register now CNBC Pro
Begin your free trial now
This market report was contributed by CNBC’s Sarah Min, Silvia Amaro and Matt Clinch.