European markets opened higher on Tuesday, December 3, with investors keeping an eye on political turmoil in France.
The pan-European STOXX 600 index opened 0.17% higher, with most sectors in positive territory except chemicals, insurance and telecoms. French financial markets were closely watched on Tuesday after Prime Minister Michel Barnier used special constitutional powers to push through a disputed budget bill without a parliamentary vote.
Opposition parties on both the left and right have said they will support a motion of no confidence to bring down Barnier's minority government. The vote could be held as early as Wednesday. France's CAC 40 index opened 0.26% higher on Tuesday, despite the vote being held soon. The CAC 40 had a choppy session on Monday, starting the day lower before turning positive and then falling back into negative territory again.
Overnight, Asia-Pacific markets traded higher, tracking gains on Wall Street after the S&P 500 and Nasdaq Composite rose to new records overnight. U.S. stock futures were mostly flat Monday night. European markets are expected to open higher on Tuesday. The U.K.'s FTSE 100 is expected to open 18 points higher at 8,322, Germany's DAX is up 15 points at 19,922, France's CAC is up 29 points at 7,245 and Italy's FTSE MIB is up 43 points at 33,601, according to data from IG. Data releases on Tuesday include U.K. retail sales and Spanish unemployment figures.
Source: CNBC
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