European markets to open lower as investors eye backlash over Trump policies

Big 5

European markets will start the week on negative footing with investors focused on corporate earnings and digesting concerns over U.S. President Donald Trump’s introduction of a travel ban on refugees coming from seven Muslim-majority countries.

FTSE 100 is seen 35 points lower at 7,149, while German DAX is seen 46 points down at 11,768 and the French CAC is to start 29 points lower at 4,810.

Protests have taken place over immigration curbs implemented by Trump.

Trump said that the four-month ban on people coming from seven Muslim-majority countries was not about religion but about keeping the country safe.

Companies such as Google, Apple, and Facebook have criticised the initiative.

U.S. dollar slipped on Monday amid the backlash, as well as weak growth data at the end of last week.

Overnight, five people were killed in Canada during a shooting at a mosque.

Back in Europe, the French socialist party elected a hard-left candidate, Benoit Hamon, to run in the presidential race.

In the corporate world, Luxottica and Bankia will be reporting their latest earnings.

Also on Friday’s calendar is the release of euro zone sentiment data and the latest Spanish gross domestic product figures.

Source: CNBC

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