欧元跌至1.167美元，为9月25日以来的最低水平，受法国政治不确定性和美国政府关门持续缺乏新进展的拖累。在法国，总理Sebastien Lecornu周一提交了辞呈，尽管总统埃马纽埃尔·马克龙要求他继续谈判，以在周三晚上打破政治僵局。博彩市场现在认为，本月提前举行选举的可能性接近60%，尽管目前尚不清楚此举是否会解决僵局。在数据方面，德国8月份工厂订单下降0.8%，低于1.4%的增长预期，标志着连续第四个月下降。与此同时，法国的贸易逆差缩小幅度低于预期，因为稳定的出口被进口的大幅回落所抵消。

The euro slipped toward $1.167, its weakest level since September 25, weighed down by renewed political uncertainty in France and a lack of fresh developments from the United States, where the government shutdown continues. In France, Prime Minister Sebastien Lecornu tendered his resignation on Monday, though President Emmanuel Macron has asked him to continue negotiations to break the political deadlock by Wednesday evening. Betting markets now assign nearly a 60% probability that early elections will be called this month, though it remains unclear whether such a move would resolve the stalemate. On the data front, German factory orders fell 0.8% in August, missing forecasts for a 1.4% gain and marking the fourth consecutive monthly decline. Meanwhile, France’s trade deficit narrowed less than expected, as steady exports were offset by a sharper pullback in imports.

斯托克50指数和斯托克600指数在上一交易日下跌后，周二均徘徊在平稳线上，投资者继续评估法国的政治局势，等待新的市场催化剂。法国总统马克龙给即将离任的总理莱科尔努48小时的时间与各政党进行谈判，以防止该国陷入更深的危机。在各行业中，工业和医疗保健股表现不佳，而能源和奢侈品股表现优异。路威酩轩集团股价上涨1.7%，从周一的类似下跌中反弹，而开云集团股价上涨2%，此前摩根士丹利将两家公司的评级从“同等权重”上调至“增持”。壳牌公司股价上涨1.4%，此前该公司宣布其天然气部门的交易量预计将在第三季度“明显高于”第二季度。SAP也上涨了近1%。下跌方面，ASML控股下跌0.8%，爱马仕下跌0.1%，诺和诺德下跌2.3%，诺华微跌0.5%。

Both the STOXX 50 and the STOXX 600 hovered around the flatline on Tuesday, following losses in the previous session, as investors continued to assess the political situation in France and awaited new market catalysts. French President Macron gave outgoing Prime Minister Lecornu 48 hours to negotiate with political parties in a last-ditch effort to prevent the country from sinking deeper into crisis. Among sectors, industrials and healthcare lagged, while energy and luxury stocks outperformed. LVMH shares rose 1.7%, rebounding from a similar decline on Monday, while Kering advanced 2% after Morgan Stanley upgraded its rating on both companies to “overweight” from “equal weight". Shell gained 1.4% after announcing that trading in its gas division is expected to be “significantly higher” in Q3 compared with Q2. SAP also advanced nearly 1%. On the downside, ASML Holding fell 0.8%, Hermes slipped 0.1%, Novo Nordisk declined 2.3%, and Novartis edged 0.5% lower.

周二，欧洲股市开局平淡，法国总理塞巴斯蒂安·莱科尔努辞职后，持续的政治不确定性打压了市场情绪。总统埃马纽埃尔·马克龙给了莱科尔努大约48小时的时间与竞争对手进行最后讨论，以打破政治僵局。周一，法国股市暴跌，银行和保险公司首当其冲，因为OAT价格下跌对资产负债表造成压力，并推高了流动性利率。法国巴黎银行、法国农业信贷银行、法国兴业银行和安盛银行均出现显著亏损。在数据方面，投资者将关注德国工厂订单、英国房价数据和法国贸易数据，以寻找新的方向。在盘前交易中，欧洲斯托克50指数和斯托克600指数期货徘徊在平线附近。

European equity markets were set for a muted start on Tuesday as ongoing political uncertainty in France weighed on sentiment following the resignation of Prime Minister Sebastien Lecornu. President Emmanuel Macron has given Lecornu roughly 48 hours for final discussions with rival parties in an effort to break the political deadlock. French stocks slumped on Monday, with banks and insurers bearing the brunt as falling OAT prices pressured balance sheets and pushed up liquidity rates. Notable losses were seen in BNP Paribas, Credit Agricole, Societe Generale, and AXA. On the data front, investors will look to German factory orders, UK house price figures, and French trade data for fresh direction. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures hovered near the flatline.

周一，欧洲股市收盘大多下跌，法国新的政治动荡重新引发了人们对欧元区最大经济体财政不稳定的担忧。欧元区斯托克50指数下跌0.3%，至5633点，泛欧斯托克50指数收平，报571点。市场对勒科尔努总理的辞职感到不安，因为法国议会在上任几周后和马克龙总统公布新政府一天后仍反对削减国家预算。法国银行和保险公司大幅下跌，因为OAT的下滑给其资产负债表带来压力，并提高了流动性利率，法国巴黎银行下跌3.5%，安盛银行下跌2.5%。巴黎的奢侈品和工业股也表现不佳，LVMH、爱马仕和EssilorLuxottica的跌幅超过2%。反过来，与人工智能和计算基础设施相关的股票受益于OpenAI和AMD之间的新协议，ASML和Adyen各上涨2%。

European stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability among the Eurozone's largest economies. The Eurozone's STOXX 50 dropped 0.3% to 5,633 and the pan-European STOXX 50 closed flat at 571. Markets were rattled by the resignation of Prime Minister Lecornu as the French parliament remained against spending cuts in the country's budget, just weeks after taking office and a day after President Macron unveiled a new government. French banks and insurers fell sharply as the slide for OATs pressured their balance sheets and lifted their liquidity rates, with BNP Paribas sliding 3.5% while AXA dropped 2.5%. Luxury and industrials traded in Paris also underperformed, with LVMH, Hermes, and EssilorLuxottica losing more than 2%. In turn, stocks with exposure to AI and computing infrastructure benefited from the new deal between OpenAI and AMD, with ASML and Adyen jumping 2% each.