European equity futures red
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EUROPEAN EQUITY FUTURES RED
European equity futures are mostly lower on Tuesday as investors take stock of the first round of the French election, following a strong showing by Marine Le Pen's National Rally.
France's CAC 40 futures FCEc1 are down 0.4% after the index closed higher by over 1% on Monday.
But the index remains 5.5% below the level it traded at before Macron called the election, given worries about France's fiscal position and integration with Europe in either a hung parliament, or a far-right majority.
"I still believe that any outcome of this election will be suboptimal compared to what we had," Barclays head of European equity strategy Emmanuel Cau said.
Euro STOXX 50 futures STXEc1 are down 0.3%, while futures on the other main European indexes are lower by between 0.2%-0.5%. Wall Street futures are also slightly lower.
Shares in Airbus AIR.PA could be in focus after sources said the company delivered "around 67 airplanes" in June, which would fall short of the company's original ambitions. Shares tumbled last week after the company cut its delivery forecast for the year.
Meanwhile, Britain's number two supermarket Sainsbury's SBRY.L maintained its guidance following a 3% rise in underlying sales in the first quarter.
(Samuel Indyk)
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TUESDAY'S OTHER LIVE MARKETS POSTS
DECISION DAY FOR FAR RIGHT'S RIVALS CLICK HERE
Vote share in first round results of France's parliamentary election https://reut.rs/3RQuaXh
Euro perks back up after first round of French election https://reut.rs/45OrcID
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