Major European bourses look set to open lower Tuesday morning as political instability in the Catalonia region of Spain continues to rumble on. The U.K.'s FTSE is seen 8 points lower, set to open at 7,500. Meanwhile, the French CAC is expected to open 7 points down at 5,359. The German DAX is set to fall 5 points to 12,951 at the start of the day's trading. Repercussions following the Catalonia region of Spain's recent bid for secession have been seen from the central government in Madrid. The ruling Spanish Partido Popular warned Catalan leader Carles Puigdemont Monday that he could be thrown in jail should he follow through with an anticipated declaration of independence Tuesday. Business confidence has been impacted in Spain, with a number of firms moving out of the Catalonia region. But, the Spanish IBEX is set to open 15 points to the upside at 10,200. Hawkish European Central Bank (ECB) board member Sabine Lautenschlaeger said Monday that the institution should reduce its bond purchasing program from 2018, with the ultimate aim of ending the scheme. The ECB Governing Council will next meet on October 26. In the U.K., Prime Minister Theresa May gave a speech to parliament Monday afternoon, announcing that there would be a two-year transition period following Britain's exit from the European Union. While "real and tangible progress" had been made, May also said that preparations were also underway should no deal be struck on the future trade relationship between the U.K. and the rest of the bloc. Overseas, the U.S.' foreign relations have been dominating the news. A diplomatic row with Turkey remains ongoing, in which U.S. visa services have been suspended following the arrest of a Turkish U.S. consulate employee. The Turkish lira and stocks have since tumbled. Tension between the U.S. and Iran also continues to simmer, with the latter country vowing a "crushing" response should the U.S. deem its elite military force, the Revolutionary Guards, a terrorist group. On the data front, German export figures are due at 7:00 a.m. London time with a slew of U.K. data due at 9:30 a.m. London time. Domino's Pizza Group is set to release a third-quarter trading statement. Source: CNBC
