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Global markets mostly sluggish

Global markets mostly sluggish

Hong Kong: World stocks were mostly lower on Monday after a US jobs report released Friday came in hotter than expected, while the euro fell after French President Emmanuel Macron dissolved the National Assembly following a setback in Sunday’s parliamentary election.

Far-right parties made major gains in parliamentary elections Sunday, leading French President Emmanuel Macron to call a snap election. This caused the euro to drop to its lowest price in nearly a month. The euro was trading at $1.0766, down from $1.0778. The setbacks for incumbent parties cast a shadow across the region. The CAC 40 in Paris sank 1.7 per cent to 7,866.87 and Germany’s DAX lost 0.7 per cent to 18,425.26. Britain’s FTSE 100 declined 0.4 per cent to 8,215.84 in early trading.

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