European Markets Brace for Opening Drop Amid French Political Shakeup #

European stocks are poised to open lower Thursday following political turmoil in France. The government led by Prime Minister Michel Barnier fell after a vote of no confidence, supported by lawmakers from the left-wing New Popular Front and far-right National Rally. This followed Barnier’s attempt to push through a social security budget bill using special constitutional powers, which enraged opposition parties, leading to the successful motion against him.

Barnier is anticipated to resign but may lead a caretaker government while the President searches for a successor. Meanwhile, Asia-Pacific stock markets experienced mixed trading after record highs in the U.S. markets. U.S. stock futures remained stable.

Bitcoin surged past the $100,000 milestone for the first time, reaching as high as $103,844.05. This followed announcements related to the Securities and Exchange Commission and statements comparing bitcoin to gold as a digital asset.

European indices are expected to decline, with the UK’s FTSE 100 down 17 points, Germany’s DAX dropping 7 points, France’s CAC falling 28 points, and Italy’s FTSE MIB down 82 points.

There are no significant earnings or data releases anticipated in Europe for the day.