European stocks are set to open in negative territory on Thursday, with French markets in focus after Prime Minister Michel Barnier's government was ousted in a no-confidence vote on Wednesday.
A majority of lawmakers from the left-wing New Popular Front and the right-wing National Rally alliance backed the no-confidence motion in the country's lower house late yesterday.
The motion was brought by the left-wing and right-wing blocs on Monday after Barnier, who has only been in power for three months, used special constitutional powers to force a social security spending bill through Parliament without a vote. The move angered opposition parties and, last night, deputies from both the left and right toppled the government.
Barnier is expected to step down on Thursday, but he could stay on to lead a caretaker government while President Emmanuel Macron searches for a replacement.
Elsewhere overnight, Asia-Pacific markets traded mixed after Wall Street stock indexes hit record highs yesterday. U.S. stock futures were little changed on Wednesday night.
There are no earnings reports or major data releases in Europe on Thursday.
Source: CNBC
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