European Shares Dip Amid Political Uncertainty in France

European shares declined on Monday as political turmoil in France led to a hung parliament, with leftist alliances unexpectedly taking the top spot. U.S. and euro zone data is expected to influence global monetary policy this week. Meanwhile, Britvic saw gains and Delivery Hero faced significant losses.

European shares took a hit on Monday, driven by political uncertainty in France where a hung parliament is now expected. This comes as leftist alliances unexpectedly gained the majority, adding complexity to forming a government.

The pan-European STOXX 600 index edged down by 0.1% as of 0711 GMT, with energy shares leading the decline in light of softening oil prices. French stocks faced the steepest drop at 0.4%, as the political deadlock unfolded, disrupting Marine Le Pen's ambition to bring the far right to power.

Attention this week is also focused on upcoming consumer price index data from the U.S. and Germany, which will be pivotal in shaping future monetary policy. Amid these developments, Britvic shares surged by 4.7%, following news of a takeover by Danish brewer Carlsberg. Conversely, Delivery Hero plummeted 16.5%, awaiting a potential fine exceeding 400 million euros from Brussels due to antitrust violations.

(With inputs from agencies.)