The country’s total stock value today is about $3.13 trillion, Bloomberg reports.
The announcement of early parliamentary elections in France affected the country’s stock market: it lost its status as the largest in Europe less than two years after it took this title away from Britain. This was reported by Bloomberg news agency.
French leader Emmanuel Macron’s announcement of early parliamentary elections last week “destroyed” about $258 billion in the market capitalization of French companies.
Shares of banks Societe Generale SA, BNP Paribas SA and Credit Agricole SA – big holders of government debt – each lost more than 10%.
The country’s total shareholder value currently stands at around $3.13 trillion, trailing Britain at $3.18 trillion.
Britain is also preparing for its own general election, but its results are seen as more robust as the opposition Labor Party leads the polls by a wide margin.
In France, market strategists remain uncertain about returns to equities due to uncertainty surrounding public finances and policies.
Toll road operators Vinci SA and Eiffage SA have collapsed amid concerns the highways could be nationalized if Macron’s party loses power.
As we have already written, the former President of France Francois Hollande, who led the country in 2012-2017, announced his participation in early elections to the National Assembly
French Elections: Macron will not nominate candidates in dozens of constituencies
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.