UK and European Markets Down in Mid-Day Trading

Politics and data are weighing on sentiment

Rouhan Sharma 23 April, 2012 | 10:50AM
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UK and European shares are following declines in Asia after the first round of presidential elections in France and news of a possible early general election in the Netherlands, along with data showing a contraction in German and Chinese manufacturing.

The FTSE 100 is down by 1.6%, while the CAC 40 in Paris is also falling by 1.6%. The German DAX is sinking by 2.2%.

Election Surprises
The first round of the French elections is leaving investors uncertain about the future of the country. "The ... French elections has thrown up a few surprises and indicates voter dissatisfaction for the mainstream politicians as parties on the far left and right benefit from voter delusion," says Simon Denham, CEO at Capital Spreads. "French elections have often thrown up surprises in the past, and even though [Francois] Hollande is ahead in the polls to win the head-to-head run off with [Nicolas] Sarkozy, it could be a very tight call."

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About Author

Rouhan Sharma  Rouhan Sharma is an assistant site editor for Morningstar.com based in Mumbai, India.

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