Major European stock indices fell in the pre-market session on Monday as investors absorbed the rise of far-right parties across Europe, and elections showed that the Austrian, French, Belgian, German and Spanish right-wing parties made strong gains, intensifying concerns about the parliament's ability to form the majority needed by the main parties to pass laws.
French President Emmanuel Macron dissolved parliament and called early elections by the end of the month after Marine Le Pen's National Rally party won about 32% of the vote in France, and Belgian prime minister Alexander De Croo announced his resignation over the weekend, especially after the poor results achieved by his party in the elections.
The main European indices declined today, as the Euro Stoxx 50 index fell by 0.79%, the FTSE 100 index fell by 0.44%, the German DAX Index fell by 0.44%, and finally the French CAC index fell by 0.95%.
The euro also lost 0.62% against the dollar during the morning, as the pair opened this week on a clear lower price gap after this news over the weekend.
On the other hand, the EUR / GBP pair is trading at the lowest level since August 2022.
The euro fell against other major currencies on Monday, under the pressure of political uncertainty associated with the European Parliament elections, due to the positive results of far-right parties across Europe.
