European markets seen lower after Trump’s health-care setback

European markets are expected to open lower on Monday morning as investors adopt a cautious tone on the back of U.S. President Donald Trump’s surprise failure to deliver swift health-care reform.

The FTSE 100 is seen 47 points lower at 7,287; the German DAX is also expected open down 47 points at 12,016 and the French CAC is set to open 22 points lower at 4,996.

On the data front, euro area loan growth and a German Ifo business climate index are both due to be released on Monday morning.

The European Central Bank will also host its annual press conference on banking supervision. The Bank of England is due to release details of its 2017 stress tests.

Elsewhere, German Chancellor Angela Merkel received a boost on Sunday as her conservative party won a regional election in the western state of Saarland.

Merkel’s Christian Democrats (CDU) bolstered their position as the state’s largest party in spite of recent pressure and the rise in prominence of the Social Democrats (SPD) leader Martin Schulz.

Meanwhile, in Russia police detained hundreds of protesters, including opposition leader Alexei Navalny, on Sunday as thousands of people took to the streets to demonstrate against corruption and urged Prime Minister Dmitry Medvedev to resign.

Source: CNBC