European markets open mixed amid political tensions in France

Investing.com -- European markets opened in mixed fashion on Wednesday as investors shift their attention to France’s National Assembly, where a high-stakes no-confidence vote is scheduled for later in the day.

At 3:10 ET (8:10 GMT) Germany's DAX index gained 0.3%, France's CAC 40 increased by 0.4%, and the UK's FTSE 100 was down 0.2%.

The vote follows a contentious decision by Prime Minister Michel Barnier’s minority government to bypass parliamentary approval and push through a budget bill using special constitutional powers.

The move has sparked two motions of no-confidence, tabled by the left-wing New Popular Front alliance and the right-wing National Rally party. Likely outcome: Government collapse

The National Rally has already confirmed it will back the motion introduced by its left-wing rivals while also supporting its own no-confidence proposal.

Given the political alignment against Barnier’s administration, the collapse of his government appears increasingly likely after the vote. Economic data in focus

Elsewhere in the region, market participants are awaiting the release of European services activity data and the latest economic outlook report from the Organisation for Economic Co-operation and Development.

These updates are expected to shape sentiment in regional markets. Oil prices rise amid supply concerns

Oil prices edged higher on Wednesday as traders balanced the potential extension of OPEC+ production cuts and ongoing geopolitical tensions against signs of weaker demand.

At 3:10 ET, Brent crude futures climbed 0.2% to $73.76 per barrel, while U.S. West Texas Intermediate crude rose 0.1%, reaching $70.05 per barrel.

Source: Investing.com