From Investing.com: 2024-06-10 03:21:59

European stock markets dipped due to gains by nationalist and euro-sceptic parties in the European Parliament election. German DAX was down 0.8%, French CAC fell 1.9%, and UK FTSE dropped 0.7%. Risk sentiment was hit after the election, leading to speculation about a more polarized European parliament.

Investors are cautious ahead of the Federal Reserve meeting this week, expecting no rate changes but potentially fewer rate cuts projected for the year. Futures suggest about 36 basis points of easing priced in, with odds of a September cut at 50:50. US CPI data is also awaited.

Ashtead stocks rose after reports that the UK-based equipment provider is considering moving its listing to the US due to better valuation comparisons. The industrial equipment company operates mainly in the US and sees a significant valuation gap to its US rivals.

Crude oil prices rose slightly after three weeks of losses, awaiting key monthly reports from OPEC, IEA, and the Fed meeting. WTI futures traded 0.2% higher at $75.67 per barrel, while Brent crude climbed 0.3% to $79.86 per barrel. Concerns about rising global supply continue to weigh on the market.



Read more at Investing.com: European stocks slump after European vote, shock French election By Investing.com