Easy come, easy go for French stocks

European investors are seeing the optimism at the open earlier fade rather quickly on the day. The CAC 40 index in particular opened nearly 1% higher but has pared all of the gains on the day to near flat levels.

It’s a sign that while political woes have ebbed to start the week yesterday, risk sentiment is not out of the woods just yet. As a reminder, the French election will begin on 30 June – first round of votes. The second round will be on 7 July. As such, expect the jitters to stay on until then. Here’s a snapshot of European indices on the day:

• Eurostoxx +0.2%
• Germany DAX +0.1%
• France CAC 40 +0.1%
• UK FTSE +0.3%
• Spain IBEX +0.3%
• Italy FTSE MIB +0.8%

This article was written by Justin Low at www.forexlive.com.