(BFM Bourse) – The index opened very strongly on Monday following the first round of legislative elections. The hypothesis of a National Assembly without an absolute majority seems to be gaining ground, which is a relief to investors.
After the nervousness, a first sigh of relief. The Paris Stock Exchange opened this Monday with a very sharp rise following the first round of the legislative elections in France.
The CAC 40 thus gained 2.6% in the first exchanges to 7,671.52 points.
The dissolution of the National Assembly by Emmanuel Macron on June 9 had caused significant political uncertainty, something the market inherently hates. Since the announcement of this decision, the CAC 40 had lost nearly 500 points and 5.9%.
But investors put the risk into perspective after the results of the first round published Sunday evening. “The first round of the French elections may have given the far right a slightly less convincing victory than the latest polls suggested, and with other parties now looking set to form alliances in the second round, this should further reduce the far right’s chances of obtaining an absolute majority” in the Assembly, underlines Deutsche Bank.
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Julien Marion – ©2024 BFM Bourse
