Live Markets: Muted opening

Schneider Electric SE

05/10/2026 09:02

Adds new blog entry
STOXX 600 up 0.1%
Major bourses mixed
Spanish PM calls early election
Wall Street futures lower
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MUTED OPENING
Major European stock indexes have opened mixed on Monday, with politics, bonds and oil prices keeping investors on edge.  
The pan-European STOXX 600 .STOXX is up just shy of 0.1% on the day, while the FTSE .FTSE hovers close to unchanged and the DAX .GDAXI is a little lower.   
France's CAC 40 .FCHI underperforms, down 0.9%. Worries about widening bond spreads and the fiscal picture are dominating but there are also some individual names behind much of the move. 
France's third-largest company by market cap before today, Schneider Electric SCHN.PA, is down 8.7% after it agreed a $22.6 billion deal to buy PTC PTC.O.
Meanwhile, its seventh-biggest firm, Hermes HRMS.PA, has shed 2% after Goldman Sachs initiated the shares with a 'sell' rating. The move in the two companies accounts for about two-thirds of the index's drop. 
Elsewhere, Spanish assets are relatively unperturbed after PM Pedro Sanchez called an early election for November 29. The IBEX  .IBEX is up 0.1%. 
Here's your opening snapshot:
(Samuel Indyk)
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EARLIER ON LIVE MARKETS: 
EUROPE BEFORE THE BELL: MIXED START, EYES ON THE BOND MARKET CLICK HERE
THE EURO HAS A FRANCE PROBLEM CLICK HERE