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European shares dip as France faces hung Parliament
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European shares dip as France faces hung Parliament
Jul 8, 2024 12:39 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

July 8 (Reuters) - European shares slipped on Monday as

France was set for a hung parliament with a leftist alliance

unexpectedly taking the top spot, while data from the U.S. and

euro zone this week will grab focus for more clues on the path

for global monetary policy.

The pan-European STOXX 600 index edged 0.1% lower

by 0711 GMT, led by losses in energy shares tracking

soft oil prices.

French stocks fell 0.4%, the most among European

peers, as France faced a hung parliament and the prospect of

taxing negotiations starting Monday to form a government, after

a surprise left-wing surge blocked Marine Le Pen's quest to

bring the far right to power.

The main economic event for the week would be the consumer

price index (CPI) data from the U.S. and Germany that will shape

the narrative for the future path of interest rate cuts.

Britvic ( BTVCF ) climbed 4.7% as the soft drinks maker said

it has agreed to be taken over by Carlsberg for 3.3

billion pounds ($4.23 billion), after the Danish brewer

sweetened its bid.

Delivery Hero slipped 16.5% to the bottom of STOXX

600 after it said it may face a fine above 400 million euros

from Brussels due to antitrust violations.

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