europeanmarkets
The first round of the French legislative elections has concluded with Marine Le Pen's National Rally securing 33% of the votes, leading over the left-wing bloc's 28% and President Emmanuel Macron's centrist alliance, which garnered 22%. As the nation heads towards the second round of voting on July 7, the possibility of forming France's first far-right government since World War II looms, with 28-year-old Jordan Bardella poised to become Prime Minister. The key question is whether the far-right will achieve an absolute majority, a scenario that would significantly impact French fiscal policy ...
Euronews (English)
The first round of the French election showed that Marine Le Pen's far-right National Rally (NR) Party may not be able to secure enough votes for an absolute majority, increasing the possibility of a hung parliament. The outcome buoyed the euro, with the single currency opening higher against most other G-10 currencies during the Asian session on Monday, as investors were relieved from the severe economic and political disruptions that could have ensued if Le Pen's party had won a monopoly on power. A possible hung parliamentOver the weekend, voter turnout in the French election reached 59.4%,...
Euronews (English)
Financial markets will focus on several key economic data points that could shape market trends for the week. The Eurozone is set to release its estimated inflation reading for June, while leaders of global central banks are poised to speak at the ECB Forum. Additionally, the US is scheduled to release key jobs data, which will provide insights into the Fed’s interest rate trajectory. The UK's general election will also be in the spotlight. EuropeGermany will report its preliminary CPI for June. The country’s annual inflation increased to 2.4% in May, the highest in five months. Costs in servi...
Euronews (English)
Political uncertainties continued to weigh on market sentiment in Europe, with most regional stock markets heading for a negative close this week. On the other side of the Atlantic, Wall Street extended its upward momentum amid a rally in tech stocks. Meanwhile, equities across Asia are mixed due to varying economic dynamics. EuropeMost European benchmarks are lower in their weekly performance, with the Euro Stoxx 600 down 1.07%, the CAC 40 down 1.28%, and the FTSE 100 falling 0.70%. The DAX is the only index in positive territory, up 0.23% over the past five trading days. Equities in France a...
Euronews (English)
The European stock markets stabilised this week after a sharp decline due to political uncertainties. The French government bond yield held steady following the first bond sale since Macron called for a snap election, suggesting that risk-off sentiment has somewhat faded. Across the Atlantic, the US markets continued to reach all-time highs, driven by AI stocks. In Asia, major indices paint a mixed picture for the week. In commodities, crude prices hit a nearly two-month high on an optimistic demand outlook as the northern hemisphere enters a hot summer. A withdrawal in the US inventory data h...
Euronews (English)
European stock markets have been notably weaker than their US peers since the EU Parliamentary elections in the past two weeks. While Wall Street repeatedly hit its all-time highs on an AI-led rally, benchmarks in Europe continued to be under pressure, highlighting dampened investment confidence in the regional market. European markets underperform peers due to less tech powerAside from the political impact, another factor that made European markets less competitive is that the regional stocks are less weighed by technology components. On monthly performance, France's CAC 40 tumbled 7.64%, the...
Euronews (English)
European stock markets opened the week with caution, following a significant sell-off last week driven by rising political risks in France. The French CAC 40 index showed timed gains of 0.2% by 11:00 CET on Monday, following a 6.2% drop the previous week, marking its worst weekly decline since the Russian invasion of Ukraine in February 2022 and wiping out its gains for 2024. The banking sector was significantly affected, with Societe Generale and BNP Paribas dropping by 14.5% and 12.2%, respectively, last week. These declines triggered a ripple effect, causing the Euro Stoxx Banks index to fa...
Euronews (English)
Investment sentiment soured amid political uncertainties in France, leading to significant market reactions. The French benchmark, the CAC 40, tumbled 6.23% last week, reaching a nearly five-month low and wiping off approximately €187 billion of market value. The euro also weakened against the US dollar, dropping to just above 1.07 early in the Asian session on June 17, marking its lowest level in six weeks. In contrast, safe-haven assets such as the US dollar, gold, and the Swiss Franc saw gains as investors grew increasingly concerned about potential spill-over risks from the European Union'...
Euronews (English)
Following rate cuts by the European Central Bank and the Bank of Canada earlier this month, more central banks, including the BoE, SNB, and RBA, are poised to decide on their interest rates. Last week, the Federal Reserve projected one rate cut for this year. The SNB delivered a rate cut in March, making it the first central bank among this group to do so. Investors will closely watch whether other central banks will follow suit or at least provide clear indications about their rate paths. EuropeThe spotlight will be on major economies’ flash manufacturing and services producer price indices (...
Euronews (English)
The European stock markets are poised to end the week on a negative note due to political uncertainties, despite a short-lived rebound induced by the Federal Reserve (Fed). In contrast, Wall Street maintained its bullish momentum, driven by a tech rally. Meanwhile, Asian stock markets were affected by declining metal prices and subdued Chinese economic data. EuropeMajor European benchmark indices declined for the week following a surprising surge in far-right power in the EU Parliamentary Elections. The selloff was particularly pronounced in French markets, with the CAC 40 falling by 3.67% fro...
Euronews (English)
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