European markets open higher amid French political turmoil

Investing.com -- European markets opened higher on Thursday, with attention centered on political developments in France. 

At 3:09 ET (8:09 GMT) Germany's DAX rose 0.1%, France's CAC 40 increased by 0.7%, while the UK's FTSE 100 was up 0.1%.

Prime Minister Michel Barnier’s administration was ousted Wednesday in a no-confidence vote in the lower house of Parliament.

The motion succeeded with backing from the left-wing New Popular Front alliance and the far-right National Rally, following Barnier’s decision to bypass Parliament by invoking special constitutional powers to pass a contentious social security budget. T

his unilateral move drew sharp criticism from opposition lawmakers, culminating in the government’s collapse just three months after Barnier took office.

Barnier is anticipated to submit his resignation later today but could temporarily oversee a caretaker administration as President Emmanuel Macron seeks a new prime minister. Shell and Equinor form JV for UK oil and gas operations

Shell PLC (BS:SHELl ) and Norwegian energy giant Equinor (OL:EQNR ) have announced plans to merge their British offshore oil and gas assets, creating what will become the U.K.’s largest independent energy company. 

This partnership is poised to strengthen both companies' positions in the region's energy sector. Vodafone-Three merger secures regulatory approval

The £15 billion merger between Vodafone (NASDAQ:VOD ) and Three has been greenlit by the U.K.’s Competition and Markets Authority. 

To address previous concerns over potential price hikes and reduced service quality, the telecom firms have committed to investments in developing a shared 5G network across the country. Oil prices steady amid U.S. inventory drop, OPEC+ meeting in focus

Crude oil prices remained steady on Thursday, driven by a larger-than-expected drop in U.S. inventories and rising Middle East tensions, though gains were capped by higher U.S. product inventories and caution ahead of an OPEC+ meeting.

By 3:09 ET, the US crude futures (WTI) remained steady at $68.56 a barrel, while the Brent contract was steady at $72.31 a barrel.

Source: Investing.com