CAC 40 futures lead declines in Europe
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CAC 40 FUTURES LEAD DECLINES IN EUROPE
European shares were set for a weaker start on Monday after the French election showed a surprisingly big shift to the left but with no single group securing a working majority
The prospect of policy paralysis in the euro zone's second largest economy pushed CAC 40 futures in Paris down 0.7%, leading the way lower across other European benchmarks.
EuroSTOXX50, DAX and FTSE futures were down as much as 0.2%. Contracts on the S&P 500 also eased slightly ahead of a week packed with events, with big Wall Street banks starting the earnings season on Friday and Thursday's U.S. CPI data.
In European corporate news, Delivery Hero DHER.DE said it may face a fine above 400 million euros from Brussels due to antitrust violations. Its shares fell 14% in early trade.
French banks could be in for more selling at the open, weighed down by political uncertainty, while traders will also be watching shares in French infrastructure and media companies.
Societe Generale SOGN.PA and BNP Paribas BNPP.PA shares fell 2.4 and 1.5% respectively on Tradegate.
Elsewhere, British soft drinks maker Britvic BVIC.L agreed to be taken over by Carlsberg CARLb.CO for 3.3 billion pounds ($4.23 billion), after the Danish brewer sweetened its bid.
(Danilo Masoni)
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