European Stocks Mostly Rise, France Lags

European equities mostly advanced on Monday, with the STOXX 50 gaining 0.2% and the broader STOXX 600 adding 0.3%. Spanish stocks led regional gains, surging more than 1% after Prime Minister Pedro Sánchez called a snap election for November 29 following a parliamentary setback for his government. France moved in the opposite direction, with the CAC 40 falling around 1% as investors remained concerned about the country’s fiscal outlook and political uncertainty ahead of the 2027 presidential election. The pressure on French assets was also reflected in the euro, which weakened to a 17-month low. Schneider Electric was among the biggest drags, plunging more than 9% after announcing plans to acquire US software company PTC for $22.6 billion. The transaction represents Schneider’s largest deal to date and raised concerns among investors. Banco Santander offered some support to the wider market, climbing more than 4% during the session.

European equities were broadly stable on Monday, with the STOXX 600 edging 0.2% higher while the STOXX 50 fluctuated around unchanged levels. Spanish shares gained around 0.4% after Prime Minister Pedro Sánchez announced a snap election for November 29, following a parliamentary setback for his government. French equities, however, underperformed, with the CAC 40 falling about 0.8% as concerns over the country’s fiscal position and political uncertainty weighed on sentiment ahead of the 2027 presidential election. The euro also weakened to a 17-month low. Schneider Electric was among the biggest drags, dropping more than 7% after announcing a $22.6 billion acquisition of US software company PTC, its largest deal to date. Banco Santander provided some support, gaining more than 2%. Mining stocks advanced as precious-metal prices benefited from softer US employment data, which strengthened expectations that the Federal Reserve could leave interest rates unchanged this month.

European equity markets were headed for a subdued open on Monday as growing concerns over political instability and a deteriorating fiscal outlook across the region weighed on investor sentiment. Spanish government officials are reportedly preparing for an early election following a damaging parliamentary defeat last week. The development added to concerns over rising debt and political uncertainty in France, where opposition parties appear unwilling to compromise with President Emmanuel Macron’s outgoing administration ahead of next year’s vote. Meanwhile, softer-than-expected US jobs data released Friday eased pressure on the Federal Reserve to raise interest rates further, offering some support to equities. Oil prices also declined as signs of rising global supply outweighed concerns over ongoing geopolitical risks in the Middle East. In premarket trading, Euro Stoxx 50 futures were hovering around the flatline.