European shares open muted ahead of pivotal vote in France

(Reuters) - European were muted at the open on Wednesday as investors braced for a crucial no-confidence vote by French lawmakers that will likely oust Prime Minister Michel Barnier's government.

The pan-European STOXX 600 index was up 0.1% at 0810 GMT, on track for its fifth straight session of gains, after closing at a one-month high on Tuesday, with Germany's DAX rising 0.5%. France's CAC 40 was up 0.05%.

The European retail and tech led sectoral gains, advancing 0.8% and 0.6%, respectively.

French lawmakers will vote on no-confidence motions that, barring a last minute surprise, would oust the French government of PM Barnier, at a time when the country is struggling to tame a massive budget deficit.

The debate is due to start at 1500 GMT, with voting expected a few hours later.

Barnier said he is open to budget talks with Marine Le Pen's far-right National Rally (RN) and other parties, and is hopeful of surviving the no-confidence vote.



The Paris-listed shares of Stellantis (NYSE:STLA ) climbed over 1%, aiding France's CAC 40, after a report that Apple (NASDAQ:AAPL )'s outgoing CFO Luca Maestri could become the new CEO of the Italian-French carmaker. However, the company later denied such claims.

On the economic data front, the euro zone's monthly PMI and producer prices data are expected during the day.

Source: Investing.com