Europe seen lower; Syriza wins Greek election

European markets are seen opening lower on Monday as investors digest news that anti-bailout party Syriza won a general election in Greece on Sunday.

The FTSE is seen opening down 65 points at 6,762, the French CAC down 58 points at 4,588 and the German DAX down 138 points at 10,523.

European markets are poised to open in negative territory as investors weigh the impact of Syriza's win in the euro zone. The Party's leader, Alexis Tsipras, is opposed to austerity measures that were part of Greece's financial bailout agreed with international lenders and has said he would try to renegotiate Greece's debt agreements.

"Greece leaves behind catastrophic austerity, it leaves behind fear and authoritarianism, it leaves behind five years of humiliation and anguish," Tsipras told thousands of cheering supporters gathered in Athens Sunday. After the election result, he said he would cooperate with other euro zone leaders for "a fair and mutually beneficial solution."

The euro fell to an 11-year low and Asian equity markets reacted nervously to the election victory of the leftist party as investors became wary of potential conflict that could put more strain on the euro zone. Adding to the gloom was a negative finish on Wall Street last Friday.

In other news, the European Union will summon foreign ministers of its 28 member states for an emergency meeting to discuss renewed fighting in Ukraine on Thursday, Foreign Affairs chief Federica Mogherini said on Sunday, Reuters reported.

This week, markets will be watching for U.K. and U.S. GDP numbers for the fourth quarter. On Monday, investors will also be watching for the Munich-based IFO Institute's latest business climate index released at 09:00 a.m. GMT.