July 24, 2024

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Europe Awaits Elections in United Kingdom and France – Markets in One Minute

Europe Awaits Elections in United Kingdom and France – Markets in One Minute

Europe is on edge, with elections in the UK and France expected


Major European indices are trading higher this Thursday after Morgan Stanley recommended buying French listed bonds ahead of the second round of French elections this Sunday.

London’s FTSE 100 is the second biggest gainer on election day in the United Kingdom, where Labor is expected to win a majority. According to the last four polls consulted by Deutsche Bank analysts, Labor could record its biggest majority in the Commons since 1832, but they warn that the confidence gap of around 100 seats is still wide.

Europe’s benchmark index, the Stoxx 600, added 0.35% to 516.46 points, with the auto sector leading the gains, up more than 1%, with German giant Continental riding a higher lead. Global car production in the second quarter of the year.

“Elections in the United Kingdom should not be a problem for markets because, unless there is a big surprise, the main scenario is already covered,” Diego Fernandez, investment director at A&G Banco, told Bloomberg.

“In France, the markets look very complacent this week, but if Sunday’s results bring more devaluation, we will be ready to buy in any weak scenario,” he said.

This Thursday’s session is expected to see light trading volume due to the Independence Day holiday with North American markets closed.

Among Western Europe’s major indices, the German Tax added 0.34%, the French CAC-40 rose 0.64%, the Italian FTSEMIB rose 0.62% and the British FTSE 100 rose 0.61%. In Amsterdam, the AEX rose 0.44%.

In contrast, the Spanish IBEX 35 fell 0.32%.

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