European Stocks Stagnate Amid Political Uncertainty and Market Weakness

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European shares remained flat on Monday as investors considered the implications of a potentially hung parliament in France following the left alliance’s unexpected success in the elections. The pan-European STOXX 600 index concluded at 516.43 points, with energy stocks dragging it down by 1.1% due to a decline in crude prices.

France’s political landscape contributed to the market unease, as French stocks fell 0.6%, marking early gains after a strong showing by the left-wing coalition. BNP Paribas and SocGen shares also declined, losing 1.7% and 1.2%, respectively.

Other notable market movements included a 9.7% jump in Grifols’ shares after a joint takeover bid was announced by the Grifols family and Brookfield. Britvic saw a 4.4% increase following an acquisition bid by Carlsberg. Meanwhile, Delivery Hero faced a 7.1% drop owing to potential antitrust fines.

(Disclaimer: With inputs from agencies.)