Tech leads European shares higher, France’s political outlook in focus

Posted by December 3, 2024 Tech
Tech leads European shares higher, France’s political outlook in focus

European shares opened higher on Tuesday, led by the tech and basic resources sectors, with investors on tenterhooks ahead of the outcome of France’s political instability this week as the likelihood of the government’s collapse has rocked the country’s markets.

The pan-European STOXX 600 rose 0.2%, with the technology and basic resources sectors leading the charge, gaining 0.9% and 0.8%, respectively.

Although up 0.6% on the day, France’s CAC 40 blue-chip index continues to underperform its regional peers as the country’s government faces an all but certain collapse on Wednesday after far-right and left-wing parties submitted no-confidence motions against Prime Minister Michel Barnier.

Both French stock and bond markets have come under pressure. The euro zone’s second-biggest economy is grappling with rising deficit, with Barnier’s government facing strong opposition to their budget.

Shares of Worldline were among the biggest gainers on STOXX 600, extending its gains from the previous day after the French payments group attracted early-stage takeover interest from private equity firms.


Mercedes-Benz dropped 2% after Barclays cut its rating on the German carmaker’s shares to “underweight” from “equal-weight”.

Related

How the Ukraine-Russia war is reshaping the tech sector in Eastern Europe

How the Ukraine-Russia war is reshaping the tech sector in…

Posted by December 4, 2024

LMT’s Pollaks says he has visited Ukraine often since the war began. Though he declines to give more details, he euphemistically describes Ukraine’s wartim

Read More

DXC Technology Named Company of the Year at The European Technology Awards

DXC Technology Named Company of the Year at The European…

Posted by December 4, 2024

BUDAPEST, Hungary, Dec. 4, 2024 /PRNewswire/ -- DXC Technology (NYSE: DXC), a Fortune 500 global technology services provider, was named

Read More

EU Inc. unveils blueprint for pan-European startup entity

EU Inc. unveils blueprint for pan-European startup entity

Posted by December 4, 2024

Today, EU Inc, an initiative to create a unified company structure for startups across Europe under a ‘28th Regime’, calls for its

Read More

Senator Ted Cruz demands probe into European influence on AI policy

Senator Ted Cruz demands probe into European influence on AI…

Posted by December 3, 2024

Republican Senator Ted Cruz has urged US officials to investigate whether European governments have tried to unduly influence the country’s laws around art

Read More

Follow Us

Recent post