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. 

European markets advanced and extended weekly gains, and bond yields edged higher amid election uncertainty in France and the U.K. German factory orders declined in May due to fewer orders for large-ticket items. Swiss inflation, one of the lowest in the world, eased in June. 

The UK parliamentary elections are likely to hand power to the Labour Party, but the country's economic woes and cost of living crisis are likely to worsen in the months ahead.

Election uncertainties in France and the UK overshadowed market trading in the eurozone and London. The jobless rate in the currency union held steady at a record low in May, and consumer price inflation eased in May. 

The French election results indicated far-right parties won a smaller than feared number of seats in the first round of the election, raising the prospect of legislative gridlock and holding the increase in government spending. 



Nokia agreed to acquire Infinera to bolster its optical networking business. Delivery Hero appointed an interim chief financial officer after the current CFO resigned.

European markets lost ground in June after the European Union elections set the stage for a shift in power balance in several member nations, rattling financial markets and the future outlook for the euro. 

European markets traded in a narrow range, bond yields advanced in the currency union, and the euro and the pound nudged lower ahead of the parliamentary elections in France and the U.K. Sweden held its policy rate steady but held out for at least two rate cuts in the second half of the year.

European markets looked beyond election jitters and the expected dramatic shift in political power balance in the UK and France in the next eleven days.

European markets turned lower ahead of the elections in France and the UK starting this Sunday. Polls are predicting landslide victories for opposition parties in both countries as voters direct their frustration with the high cost of living, illegal migration, and prolonged war in Ukraine. 

The European market attempted to rebound for the second week, but the French government bond's risk premium remained elevated ahead of the parliamentary election later in the week.

European markets turned lower and trimmed weekly gains after a week of tumultuous trading. The euro held firm, and the spread between the French and German bonds stayed elevated for the second consecutive week. Eurozone business activity growth slowed in May, and UK retail sales unexpectedly remained strong in May. 



The Bank of England held its interest rate steady for the seventh time in a row and signaled restrictive rates ahead. The Swiss National Bank lowered its policy rate for the second time in a row and warned about moderate economic growth in the current year. The Norges Bank held its policy rate steady but stressed that inflation is still too high.