Europe Stocks Rise With French Vote On Horizon

Europe stocks rise with French vote on horizon

European stock markets attempted to rebound on Monday despite jitters over the first round of French elections taking place this weekend

London, (UrduPoint / Pakistan Point News - 24th Jun, 2024) European stock markets attempted to rebound on Monday despite jitters over the first round of French elections taking place this weekend.

"European markets are in recovery mode, with widespread gains taking shape," said Shore Markets analyst Joshua Mahony.

"Despite ongoing concerns around this weekend's French parliamentary election, French stocks are on the rise as investors buy the dip that saw the CAC lose almost 10 percent in a month," he said, referring to the Paris benchmark stock index CAC 40.

President Emmanuel Macron threw markets into turmoil by calling the snap legislative polls after his centrist party was trounced by the far-right National Rally (RN) in European Parliament elections two weeks ago.

Certain opinion polls showed the RN garnering 35-36 percent of voting intentions for Sunday's first round, ahead of a left-wing alliance on 27-29.5 percent and Macron's centrists in third on 19.5-22 percent. The second round will be held on July 7.