European markets to open lower as faith in the Trump agenda slides

Big 5

European markets were set to open lower on Monday morning as investors remained unconvinced about President Donald Trump’s ability to impose his ambitious economic agenda.

The FTSE 100 is seen 27 points lower at 7,300; the DAX is expected to open down by 21 points at 12,153 and the CAC 40 is set to open 13 points lower at 5,103.

In the U.S., Wall Street shares only got a short-lived boost on Friday after Trump fired his controversial policy strategist, Steve Bannon.

The dismissal of Trump’s former White House chief strategist was followed by the resignation of his special advisor on regulation, Carl Icahn, on Friday. Icahn reportedly left the administration ahead of a critical magazine article detailing his alleged conflicts of interests and questioning whether he had acted illegally.

Meantime, investors were also wary of any flare-up in geopolitical tensions between the U.S. and North Korea as U.S. troops and South Korean forces conducted a joint military exercise on Monday. Source: Reuters