Investing.com – European stock markets were broadly lower on Monday, as shares in the financial sector led losses amid concerns over the region’s ongoing debt crisis, while U.S. futures indexes pointed to a lower open on Wall Street.
During European morning trade, the EURO STOXX 50 sank 0.85%, France’s CAC 40 dropped 0.7%, while Germany's DAX 30 slumped 0.5%.
Shares in the financial sector performed poorly amid speculation over Greek debt restructuring and after Finland's anti-euro party, True Finns made big gains in the country’s parliamentary election on Sunday, raising the risk of disruption to a euro zone bailout plan for Portugal.
Europe’s third largest banking group Societe Generale dropped 3%, shares in Spain’s biggest lender Banco Santander fell 2.25%, while Italian banking giant Unicredit saw shares slump 2.2%.
Shares in Italy’s largest phone company Telecom Italia tumbled 5.1% after it said it would increase its fixed-line monthly fee by 2.5% to EUR16.5 per month and apply new rates starting July 1.
Meanwhile, Swiss medical-device manufacturer Synthes saw shares surge 6.8% after it confirmed it was in talks with Johnson&Johnson. The Wall Street Journal reported on Friday that J&J was looking to buy Synthes in a deal that could be valued at roughly USD20 billion.
Shares in Dutch consumer electronics giant Philips added 0.5% after it reported first quarter revenue rose 5.5% to EUR5.26 billion. The company said it expected "headwinds in 2011 due to the Japan tragedy, impacting our revenue and supply chain."
In London, the FTSE 100 shed 0.3% as shares in Barclays dropped 1.9% after the Sunday Telegraph reported that a group of investors, which together hold more than 10% of its equity, have told the board they would prefer the British bank to be domiciled outside of the U.K.
Shares in Lloyds Banking Group fell 1.45%, while Royal Bank of Scotland saw shares slide 1.2%.
The outlook for U.S. equity markets, meanwhile, was downbeat ahead of earnings reports from Citigroup and semiconductor manufacturer Texas Instruments.
The Dow Jones Industrial Average futures pointed to a drop of 0.3%, S&P 500 futures indicated a loss of 0.4%, while the Nasdaq 100 futures shed 0.35%.
Later in the day, Federal Reserve Bank of Dallas President Richard Fisher was due to speak at two events in Atlanta.
During European morning trade, the EURO STOXX 50 sank 0.85%, France’s CAC 40 dropped 0.7%, while Germany's DAX 30 slumped 0.5%.
Shares in the financial sector performed poorly amid speculation over Greek debt restructuring and after Finland's anti-euro party, True Finns made big gains in the country’s parliamentary election on Sunday, raising the risk of disruption to a euro zone bailout plan for Portugal.
Europe’s third largest banking group Societe Generale dropped 3%, shares in Spain’s biggest lender Banco Santander fell 2.25%, while Italian banking giant Unicredit saw shares slump 2.2%.
Shares in Italy’s largest phone company Telecom Italia tumbled 5.1% after it said it would increase its fixed-line monthly fee by 2.5% to EUR16.5 per month and apply new rates starting July 1.
Meanwhile, Swiss medical-device manufacturer Synthes saw shares surge 6.8% after it confirmed it was in talks with Johnson&Johnson. The Wall Street Journal reported on Friday that J&J was looking to buy Synthes in a deal that could be valued at roughly USD20 billion.
Shares in Dutch consumer electronics giant Philips added 0.5% after it reported first quarter revenue rose 5.5% to EUR5.26 billion. The company said it expected "headwinds in 2011 due to the Japan tragedy, impacting our revenue and supply chain."
In London, the FTSE 100 shed 0.3% as shares in Barclays dropped 1.9% after the Sunday Telegraph reported that a group of investors, which together hold more than 10% of its equity, have told the board they would prefer the British bank to be domiciled outside of the U.K.
Shares in Lloyds Banking Group fell 1.45%, while Royal Bank of Scotland saw shares slide 1.2%.
The outlook for U.S. equity markets, meanwhile, was downbeat ahead of earnings reports from Citigroup and semiconductor manufacturer Texas Instruments.
The Dow Jones Industrial Average futures pointed to a drop of 0.3%, S&P 500 futures indicated a loss of 0.4%, while the Nasdaq 100 futures shed 0.35%.
Later in the day, Federal Reserve Bank of Dallas President Richard Fisher was due to speak at two events in Atlanta.