LONDON (Reuters) – European shares fell on Monday as a jump in bond yields hit technology shares, while volatility dominated French stocks amid expectations of a heated competition between President Emmanuel Macron and his rival, far-right candidate Marine Le Pen, in the final round of the presidential election.
The pan-European Stoxx 600 index closed 0.6 percent lower, led by technology shares, which fell 2.2 percent. Among regional indices, the German DAX index fell 0.6 percent, while the British FTSE index fell 0.7 percent.
The French CAC 40 index closed up 0.1 percent, while partial results showed Macron’s advance after the first round of the presidential elections that took place on Sunday, although opinion polls indicated a fierce competition in the run-off that will take place on April 24, as Macron gave 51 percent compared to 49 percent for Le Pen. .
The CAC 40 is now 1.6 percent below its level at the beginning of the month, while the Stoxx 600 is up 0.4 percent.
Overall, euro zone bank and insurance stocks rose amid a sharp increase in bond yields ahead of inflation data in the US and the European Central Bank meeting later this week.
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