PARIS (Reuters) – The main European stock markets are trading sharply lower at the start of the session on Tuesday, with geopolitical uncertainties in Europe and across the Atlantic weighing on investor sentiment.
In Paris, the CAC 40 fell by 1.6% to 7,347.93 points around 08:22 GMT. The Dax in Frankfurt lost 0.95%, while the FTSE in London declined by 0.51%.
The pan-European FTSEurofirst 300 index lost 0.86%, the EuroStoxx 50 fell by 0.86% and the Stoxx 600 declined by 0.92%.
The Federal Statistics Office confirmed on Tuesday that German inflation reached 2.4% in October, in line with its preliminary data.
But Berlin is attracting attention due to the collapse of the ruling coalition and the resulting uncertainties weighing on Europe’s largest economy.
Chancellor Olaf Scholz thus announced that he was prepared to hold a vote of confidence in Parliament before Christmas, although he had initially mentioned the month of January.
At the same time, investors continue to digest the election of Donald Trump for a second term in the White House as the distribution of key administration positions advances.
In terms of values, the chemicals sector lost 1.67%, weighed down by Bayer, which lost 12.45% after lowering its operating profit forecasts for the whole year on Tuesday.
(Written by Bertrand De Meyer, edited by Kate Entringer)
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