FX.co ★ European Stocks Mixed as Political Risks Weigh on Markets

European equities were largely steady on Monday, with the STOXX 600 inching up 0.2% and the STOXX 50 oscillating around flat. Spanish stocks rose roughly 0.4% after Prime Minister Pedro Sánchez called a snap election for November 29, following a parliamentary setback for his government.

In contrast, French equities lagged, with the CAC 40 slipping about 0.8% as mounting worries over France’s fiscal outlook and political uncertainty weighed on sentiment ahead of the 2027 presidential election. The euro also weakened, sliding to a 17‑month low.

Schneider Electric was among the heaviest decliners, falling more than 7% after unveiling a $22.6 billion acquisition of US software group PTC, its largest transaction to date. Banco Santander helped underpin the market, advancing more than 2%.

Mining shares gained ground as precious metals benefited from softer US employment data, bolstering expectations that the Federal Reserve will keep interest rates on hold this month.