European equity close: French stocks cautious ahead of Sunday’s vote

Closing changes:

• Stoxx 600 -0.2%
• German DAX +0.1%
• UK FTSE 100 -0.6%
• French CAC -0.4%
• Italy MIB -0.4%
• Spain IBEX -0.5%

There was some early optimism in European stocks that faded in the final 90 minutes of trading. I expect a sigh of relief in French stocks no matter the results on Monday but at the same time, there is some global weakness that I believe is being masked in US stocks by seasonal factors in the start of July. That won’t last.

This article was written by Adam Button at www.forexlive.com.