Europe open: Stoxx up as France turmoil, Anglo American-Teck merger in focus

(Sharecast News) - European stocks opened higher on Tuesday as investors assessed the political turmoil in France Prime Minister Francois Bayrou was ousted in a confidence vote a day earlier, while the merger of miners Anglo American and Teck Resources was also in focus. Th pan-regional Stoxx 600 index was up 0.32% in early deals, with France's CAC 40 rising 0.60%.

Bayrou, who called the motion, was widely expected to lose the vote as rivals from both left and right combined to oppose 2026 austerity budget plans to tackle the country's massive deficit.

French President Emmanuel Macron will now have to appoint the nation's fifth prime minister in less than two years.



In equity markets, London-listed Anglo American jumped 5.8% after it confirmed its merger with Canada's Teck Resources to create one of the world's top five copper producers.

Reporting by Frank Prenesti for Sharecast.com

Frankfurt-listed shares of Teck Resources were last seen trading 21.7% higher.