European markets extended weekly losses amid rate path uncertainty, a global tech outage, and a lack of policy clarity in China. Resource stocks were under pressure after policymakers failed to make major policy announcements at the end of the much-delayed Third Plenum.
The European Central Bank held its three key lending rates steady after trimming rates by 25 basis points in June for the first time since 2016. The European Union passenger car registration increased in June, but battery vehicle sales eased.
European markets turned lower amid rate jitters and macroeconomic anxieties as investors reviewed the latest batch of earnings. The Euro Area trade balance swung to a surplus in May after imports fell faster than exports.
European markets halted a 3-day rally, and luxury stocks declined after China reported mixed economic data. Industrial output in the eurozone declined less than expected in May.
European markets rebounded, the euro held firm, and bond yields edged lower after a week of political turmoil in France. Germany's wholesale prices declined for the 14th month in a row.
Political turmoil in France shows no sign of abating, with the potential to drag down the euro amid well-entrenched divisions among three political blocs with no clear majority.
With rising political turmoil and leading nations of the European Union, the euro may face an uncertain future in the months ahead. French lawmakers struggle to form an alliance amid deep divisions, which could force President Macron to appoint a technocrat as the next prime minister.
European markets extended weekly losses as France struggled to form a new government. The UK's newly appointed government plans to ramp up infrastructure spending, driving a higher budget deficit.
France is facing political gridlock after Sunday's snap election resulted in the first ever hung parliament, as neither party won a clear majority. Immigration, taxes, and pensions are likely to dominate the political agenda over the next three years.
European markets extended weekly gains, and the pound and the euro were in focus after the UK's Labour Party won in a landslide victory and the French parliament faced gridlock.
