Monday, September 8, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Real Estate

Europe: French stocks drag continent-wide shares lower on political turmoil

by Stephanie Irvin
in Real Estate
Europe: French stocks drag continent-wide shares lower on political turmoil
Share on FacebookShare on Twitter


European shares dropped in a broad-based sell-off on Friday (Jun 14), marking a weekly loss amid political turmoil in France that has sent the French benchmark reeling.

The pan-European Stoxx 600 closed 1 per cent lower, touching a more than five-week low and clocking its worst single-week drop of this year with a 2.4 per cent decline.

France’s CAC 40 index shed 2.7 per cent, underperforming the region’s bourses, and the risk premium on domestic bonds hit a seven-year high.

Most regional bourses logged weekly losses. The French benchmark saw the worst with a 6.2 per cent tumble.

French Finance Minister Bruno Le Maire warned that the eurozone’s second-biggest economy faced the risk of a financial crisis if either the far right or left won the coming parliamentary election because of their heavy spending plans.

France’s left-wing parties will launch a manifesto for their renewed alliance on Friday in a bid to challenge the far-right National Rally, which is leading the polls ahead of the snap vote.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

“The events have reinforced our negative outlook on France, and we would not look to build positioning at current market levels until there is more certainty surrounding the elections,” said Iain Stealey, international chief investment officer for fixed income at JPMorgan Asset Management.

European Central Bank President Christine Lagarde largely dodged a question about the turmoil in French financial markets.

European lenders slid 2.3 per cent and led declines, with French banks BNP Paribas, Societe Generale and Credit Agricole dropping between 2.7 and 3.6 per cent.

Automobile-related shares extended losses, falling 2.1 per cent to their lowest levels in more than four months on uncertainty over how China might respond to the EU’s new tariffs on imported Chinese electric vehicles.

Germany is reportedly trying to prevent or soften the bloc’s tariffs.

On the data front, French consumer prices rose 2.6 per cent in May, slightly lower than a preliminary reading of a 2.7 per cent increase published in late May.

European shares saw outflows of US$600 million in the week to Wednesday, extending the streak of outflows to four straight weeks, according to Bank of America Global Research data.

British homebuilder Crest Nicholson jumped 13.7 per cent after it said rival Bellway’s revised and unsolicited £650 million (S$1.1 billion) all-share takeover offer “significantly undervalued” the group.

Bellway’s shares fell 4.4 per cent.

H&M advanced 2.4 per cent after UBS upgraded the world’s second-largest listed fashion retailer to “buy” from “neutral”. REUTERS

Tags: continentwideDragEuropeFrenchPoliticalSharesStocksTurmoil
Stephanie Irvin

Stephanie Irvin

Next Post
Oil dips, but posts weekly gain on solid 2024 demand outlook

Oil dips, but posts weekly gain on solid 2024 demand outlook

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In