European investors are seeing the optimism at the open earlier fade rather quickly on the day. The CAC 40 index in particular opened nearly 1% higher but has pared all of the gains on the day to near flat levels.
It’s a sign that while political woes have ebbed to start the week yesterday, risk sentiment is not out of the woods just yet. As a reminder, the French election will begin on 30 June – first round of votes. The second round will be on 7 July. As such, expect the jitters to stay on until then. Here’s a snapshot of European indices on the day:
Eurostoxx +0.2%Germany DAX +0.1%France CAC 40 +0.1%UK FTSE +0.3%Spain IBEX +0.3%Italy FTSE MIB +0.8%
This article was written by Justin Low at www.forexlive.com.
