STOXX 600 slips, France underperforms on budget worries
STOXX 600 down 0.3%
French stocks underperform on budget worries
Wall St futures lower
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STOXX 600 SLIPS, FRANCE UNDERPERFORMS ON BUDGET WORRIES
Europe's STOXX 600 .STOXX is down 0.3% on Wednesday, while French stocks underperform on concerns about whether the country's belt-tightening budget will get approved in parliament.
Far-right leader Marine Le Pen has threatened this week to bring down the coalition government in a no-confidence vote after budget talks with PM Michel Barnier failed to satisfy her party's demand for concessions.
Barnier warned on French television on Tuesday that there was likely to be a "serious storm" in markets should the government collapse.
France's CAC 40 .FCHI fell as much 1.2% to its lowest level since the market turmoil at the beginning of August. It was last down 0.9%. French mid caps .CACMD fell to their lowest since November last year.
Banks have been hit notably hard as the spread between French and German 10-year yields DE10FR10=RR hit its widest since 2012. Societe Generale SOGN.PA, Credit Agricole CAGR.PA and BNP Paribas BNPP.PA are down between 2.1%-3.2%.
The STOXX Europe 600 banks index .SX7P touched its lowest level in more than seven weeks.
In the rest of Europe, Germany's DAX is down 0.2%, while Britain's FTSE 100 .FTSE is up 0.1%.
Here's your opening snapshot:
(Samuel Indyk)
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European shares mostly lower, France underperforms https://reut.rs/3V7zUNW
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