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Europe Stocks Today: STOXX 600 Falls 1% as French Unrest Weighs on Banks

The STOXX 600 was down 1.00% around 12:40 GMT on Monday, Oct. 19, as spreading protests in France hit banks and carmakers and pushed French bond yields higher.

By Global Market Now Staff · · 3 min read

The Eiffel Tower rising above Paris rooftops
Photo: John Towner / Unsplash

Why it matters

  • The STOXX 600 was at about 638.32 around 12:40 GMT on Monday, down 1.00% from Friday, and France's CAC 40 was down 1.50%, Yahoo Finance data showed, as escalating protests in France and nearby countries hurt sentiment, Trading Economics said.
  • Travel and leisure, carmakers and banks led losses, Trading Economics said. Stellantis fell about 4.7%, BNP Paribas about 2.9% and Barclays about 3.5%, while ASML rose about 1.5%.
  • France's 10-year yield rose about 10 basis points to about 4.89%, near its highest in more than two decades, Trading Economics said. Germany's 10-year Bund yield rose to about 3.44%.

Session recap: what happened in this region's trading day, with sources.

European stocks fell on Monday, Oct. 19, as protests in France escalated over the weekend and spread to Belgium, Italy and Portugal, Trading Economics said. The STOXX 600 was at about 638.32 around 12:40 GMT, down 1.00% from Friday's close, and the CAC 40 was down 1.50%, according to Yahoo Finance data.

Market, about 12:40 GMTLevelChange vs. Friday
STOXX Europe 600638.32−1.00%
Euro STOXX 506,131.52−1.17%
DAX (Germany)25,284.71−1.32%
FTSE 100 (U.K.)10,749.70−1.21%
CAC 40 (France)7,837.30−1.50%
FTSE MIB (Italy)49,046.97−1.62%
IBEX 35 (Spain)18,981.60−1.78%
AEX (Netherlands)1,138.76−0.36%
SMI (Switzerland)14,323.99−0.47%

Source: Yahoo Finance chart data. Levels are intraday and approximate; changes are from Friday, Oct. 16, closes.

Why are European stocks falling today?

Unrest in France weighed on sentiment, and oil stayed elevated with Brent above $107 a barrel, Trading Economics said. The protests began last month in high schools in working-class suburbs north of Paris, over the cost of living and the education system, and demands for more public spending clash with pressure to cut France's fast-growing debt ahead of April's presidential election, it reported.

Travel and leisure stocks led losses, followed by carmakers and banks, Trading Economics said. Around 12:40 GMT, Stellantis was down about 4.7%, Airbus about 2.8%, BNP Paribas about 2.9% and LVMH about 2.4%, Yahoo Finance data showed. In Frankfurt, Rheinmetall fell about 3.4% after jumping 6.3% on Friday. ASML bucked the trend, up about 1.5%.

The decline reversed Friday's 0.72% gain in the STOXX 600, Yahoo Finance data showed; see our Europe Friday recap.

Why is the FTSE 100 down?

London retreated after a rally of more than 3% last week and tracked losses across Europe, Trading Economics said. Banks led the decline, with Barclays down about 3.5% around 12:40 GMT, Yahoo Finance data showed, and HSBC, NatWest and Standard Chartered lower, Trading Economics said. BAE Systems and Rolls-Royce fell, while Shell and BP edged higher.

What are bonds and the euro doing?

France's 10-year yield rose about 0.10 percentage point to about 4.89%, approaching its highest in more than two decades, as the unrest and a struggle to pass a budget raised fiscal worries, Trading Economics said. Germany's 10-year Bund yield rose about 3 basis points to about 3.44%, and Italy's 10-year yield rose to 4.55%, it reported.

The euro was at about $1.1227 and the pound at about $1.3326 around 12:55 GMT, and Brent crude was at about $108.40 a barrel, down 1.33% from Friday's settlement, Yahoo Finance data showed.

What comes next for European markets?

The European Central Bank holds its next policy meeting Oct. 28-29, with a press conference after the second day, according to its calendar. Barclays reports results on Thursday, Oct. 22, according to Nasdaq's earnings calendar. Asia's session is in our Asia Monday recap, U.S. futures are in our day-ahead guide, and live levels are on the markets page.

Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.

Sources

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