European markets decline on German deadlock

European markets decline on German deadlock

On Tuesday, European markets headed south because a political deadlock in Germany kept weighing on investors' confidence.

The EURO STOXX 50 went down 0.10%, Germany’s DAX 30 dipped 0.09% and France’s CAC 40 sagged 0.01%.

Financial markets were jittery after on Sunday German Chancellor Angela Merkel didn’t cope with forming a government coalition, when the Free Democrats Party suddenly left the negotiation table. On Monday, Merkel told that she would opt for a new election rather than a minority government.

Financial stocks mostly gained, as French lenders BNP Paribas as well as Societe Generale tacked on 0.16% and 0.41% respectively. Besides this, Germany's Commerzbank and Deutsche Bank rallied 0.78% and 0.38% respectively.

As for peripheral lenders, Italy's Intesa Sanpaolo along with Unicredit gained respectively 0.14% and 0.30%, while Spanish banks Banco Santander and BBVA underperformed, with equities down respectively 0.07% and 0.77%.

FTSE 100 went down 0.12% in London.

Similar

Latest news

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera