LONDON: Europe’s major stock markets were hesitant on Monday as dealers tracked increasing coronavirus lockdowns across the region on the eve of the US presidential election.
In early morning trade, London’s benchmark FTSE 100 index of top companies turned flat at 5,575.35 points, after losing ground at the open.
In the eurozone, the Paris CAC 40 dipped 0.1 percent to 4,591.75, while Frankfurt’s DAX 30 added 0.1 percent to 11,570.56 points.
Over the weekend, British Prime Minister Boris Johnson said England would go into a four-week lockdown to combat a deadly second virus wave, after similar measures taken by France, Portugal, Austria, Greece and Ireland.
Germany, Spain and Italy are also enforcing strict containment measures.
England’s second national lockdown, hastily announced late Saturday following warnings hospitals could be overwhelmed within weeks, is set to come into force from Thursday and end on December 2.
“Europe is off to an uneventful start, despite the increasing number of lockdowns being seen across Europe,” said OANDA anlayst Craig Erlam.
“There’s so much event risk this week — more lockdowns just don’t pack the same punch they did last week. The election is obviously number one on this front.
“Last week’s sell-off priced in a lot of negative developments, enabling traders to take to the sidelines at the start of this week. I expect to see plenty more caution over the next couple of days.”
