9th Sep 2025 06:58
(Alliance News) - Stocks in Europe are set to open lower on Tuesday, with the Paris market on the decline amid French political chaos, though Tokyo's Nikkei 225 hit a record high.
In focus on Tuesday will be nonfarm payrolls benchmark revision data for the 12 months to March, publishing by the Bureau of Labor Statistics at 1500 BST.
"Expectations of a Fed interest rate cut may be fuelled today by the revision of the benchmark payroll figures. The Bloomberg consensus assumes that 700,000 fewer jobs were created in the labour market than originally thought. This is despite the figures already having been revised downwards recently, which led to the dismissal of the head of the statistics authority," Commerzbank analyst Michael Pfister commented.
IG says futures indicate the FTSE 100 to open 15.5 points lower, 0.2%, at 9,205.94 on Tuesday. The index of London large-caps closed up 13.23 points, 0.1%, at 9,221.44 at the start of the week.
The CAC 40 in Paris is called down 0.3% and Frankfurt's DAX 40 0.4% lower.
Following the collapse of France's centre-right government, President Emmanuel Macron is set to swiftly appoint a new prime minister, his office said.
The Elysee Palace said on Monday evening that Macron will meet with outgoing Prime Minister Francois Bayrou on Tuesday to accept his government's resignation.
"The president will appoint a new prime minister in the coming days," the statement added, noting that Macron has taken the outcome of the confidence vote into account.
Bayrou had tied a confidence vote in the National Assembly to his proposed austerity measures but failed. A total of 364 deputies voted against him, while only 194 supported him. As head of state, Macron is responsible for appointing the prime minister.
Sterling advanced at to USD1.3577 on Tuesday morning, from USD1.3545 at the time of the London equities close on Monday. The euro climbed to USD1.1778 from USD1.1749, shaking off the French turmoil. Against the yen, the dollar declined to JPY146.93 from JPY147.60.
The pound was trading around a one-month-high, while the euro was at its best level since late-July.
The yield on the 10-year US Treasury sat at 4.06%, widening slightly from 4.05% at the time of the London equities close on Monday. The yield of the 30-year narrowed to 4.70% from 4.71%.
In Tokyo, the Nikkei 225 was down 0.2% but hit a record high in morning trade. The Shanghai Composite was down 0.9%, while the Hang Seng Index in Hong Kong fell 0.5%. In Sydney, the S&P/ASX 200 fell 0.6%.
In New York on Monday, the Dow Jones Industrial Average added 0.3%, the S&P 500 rose 0.2% and the Nasdaq Composite climbed 0.5%.
Gold faded to USD3,658.13 an ounce from USD3,644.14 at the time of the London equities close on Monday. A barrel of Brent edged up to USD66.38 from USD66.31.
Tuesday's local corporate calendar has full-year results from homewares retailer Dunelm and half-year results from transport operator Mobico and technology group Computacenter.
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.