European Market Open: Tech Weakness, French Budget Risk, and Germany's Russia and China Outlook

Market-open coverage assesses the main forces shaping European equities and rates, including a weak technology tone from Asia, pressure in industrial and data-center-linked shares, and French political and budget uncertainty. It also reviews Germany's strategic message on Russia and China, U.K. labor-market data and budget expectations, and the outlook for U.S. technology earnings and AI-related spending.

■ Markets and technology
- Asian data-center IPO weakness, European tech and industrial share moves, U.S. futures, and Treasury yields

■ France and European policy
- Protests, curfews, budget negotiations, French bond spreads, and the fiscal consolidation path

■ Germany and geopolitics
- Friedrich Merz on Russia, European democracy, China trade, and Germany's investment summit

■ U.K. and U.S. outlook
- U.K. labor data, budget expectations, Bank of England rate views, U.S. tech earnings, and AI capex and credit concerns

It is suited to investors, market analysts, and readers tracking European equities, rates, and policy developments. It offers a concise map of the session's main themes and the events to monitor next, rather than detailed company fundamentals or forecasts.