European equities are on back foot

European equities are on back foot

On Monday, European equities slumped because market participants took a cautious view of the approaching coalition tussle in Germany, reacting to elections in which Chancellor Angela Merkel managed to grasp a fourth term, although ended up seeing her party weakened by an ascend in support for the far-right.

Financial market demonstrated rather a muted reaction to currencies. The common currency took a hit, although the vast majority of regional benchmarks were intact to lower as traders took the view that a coalition government in Germany could confound some expectations for firmer euro zone integration going forward.

The STOXX 600 was nearly intact, while euro zone blue chips slumped 0.1%. In Germany, DAX went down 0.1%.

In Spain, IBEX kept lagging its counterparts, and it lost 0.6% in early trades. Apparently, the surging political crisis in Spain over Catalonia's shocking campaign for independence heavily affected equities.

 

 

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