The Paris stock market rose in opening deals on Tuesday, a day after French Prime Minister Francois Bayrou’s government fell as it lost a confidence vote in parliament.
The CAC 40 index of French blue-chip stocks rose 0.2 per cent in early trading, while the Frankfurt DAX fell 0.1 per cent and London’s FTSE 100 rose 0.1 per cent.
President Emmanuel Macron was due to accept Bayrou’s resignation on Tuesday and look for a successor to stave off a new political crisis in the eurozone’s second biggest economy.
“With the defeat having been widely anticipated, the market reaction was muted,” said Jim Reid, head of macro research at Deutsche Bank.
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The calm reaction “suggests that a lot of the bad news is already priced into the French index, and it may take a serious deterioration in the situation from here to spook the French stock market,” said Kathleen Brooks, research director at XTB trading platform.
AFP
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