Early on Monday, French markets saw a rush of relief as the country’s snap election results elevated hopes of a hung parliament.
The French Interior Ministry on Monday, the far-right National Rally party and its partners received 33.1% of the vote, followed by the left-wing NFP alliance with 28% and Macron’s coalition with 20%.
By 8:47 a.m. London time, France’s benchmark CAC 40 index had increased 1.9% from its previous highs. The election ultimately confirms what we already knew, The director of research at La Banque Postale Asset Management, who spoke with CNBC’s “Squawk Box Europe.”
Though it’s by no means perfect, he continued, from a commercial standpoint, that is the “least bad” alternative. In France, a majority is typically required to rule.
Perhaps there won’t be as much of a majority after the second round. Thus, we must decide on the structure of French governance.
Source (CNBC)
