Arab News Headlines

European Stocks Close Lower After French Parliamentary Elections’ Results


European stock indices on Monday closed lower after the results of the parliamentary elections in France showed that none of the competing alliances obtained a clear majority, and amid additional pressure from the weakness in the shares of energy companies.

The European Stoxx 600 index settled at 516.43 points, with the oil and gas sector having the most influence on the index results after it fell 1.1 percent amid the decline in crude oil prices.

The French CAC 40 index gave up its early gains, losing 0.6 percent, amid expectations that negotiations to form the government will begin Monday.

BNP Paribas shares lost 1.7 percent, while Societe Generale fell 1.2 percent.

Delivery Hero shares fell 7.1 percent, the worst performance on the Stoxx600 index after the food delivery company announced that it may face a fine exceeding 400 million euros from the European Union (EU) as a result of violating antitrust rules.

Source: Qatar News Agency