LONDON — European markets are expected to open in the red, extending losses into a second day after hitting record highs last week.
The U.K.’s FTSE 100 is seen almost 0.2% down, France’s CAC is set to be 0.1% below the flatline, and Germany’s DAX is set for a soft open, according to data from IG Group.
The pan-European Stoxx 600 ended the previous session 0.1% lower on Monday. Still, the benchmark has risen 14% higher this year and, with a week to go, it looks on track for its third consecutive year of gains.
Investors will be watching Novo Nordisk stock after the Wegovy-maker gained FDA approval for the first-ever GLP-1 pill, giving the Danish firm a head start over U.S. rival Eli Lilly.
Elsewhere, Danish renewables giant Orsted shed 13% on Monday after the U.S. Department of the Interior said it was suspending leases on five offshore wind projects already under construction. Orsted successfully challenged the Trump administration’s stop-order on the nearly-completed Revolution Wind project off Rhode Island when it was halted earlier this year.
GDP data from Spain is expected on Tuesday.
Asia-Pacific markets opened mostly higher Tuesday, after the AI trade lifted major Wall Street indexes overnight. Stateside, stock futures traded near the flatline Monday night after a strong start to a shortened trading week.
— CNBC’s Elsa Ohlen and Lim Hui Jie contributed to this report.