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The pan-European STOXX 600 index was up 0.01% by 0714 GMT, with a U.S. holiday likely making for choppy trading. The benchmark had shed 4.6% last week in a global sell-off that was fuelled by worries about a recession.
France’s CAC 40 slipped 0.1% after Macron’s centrist Ensemble coalition fell well short of the absolute majority needed to control parliament, a major setback that could throw the country into political paralysis.
The country’s major banks, including Societe Generale (OTC:SCGLY), BNP Paribas (OTC:BNPQY) and Credit Agricole (OTC:CRARY), slipped about 1% each.
French carmaker Renault (EPA:RENA) jumped 3.6% after Jefferies upgraded the stock to “buy”.
Swedish gardening power equipment maker Husqvarna dropped 1.8% after it said production in the second quarter had been constrained by continued component supply shortage.
