(Bloomberg) -- After a period of relative calm during the Olympics, the risks weighing on French stocks are again on the rise.Most Read from BloombergNazi...
-- After a period of relative calm during the Olympics, the risks weighing on French stocks are again on the rise.How the Cortiços of São Paulo Helped Shelter South America’s Largest City
Monchau added that there’s an elevated risk of social unrest because of the political fight over the formation of a new government, but the core scenario of a center-right coalition would be rather positive for French bonds and stocks. Rodriguez notes that the government will need to table the 2025 budget bill in parliament by Oct. 1. It will also have to submit a multi-annual fiscal plan to the European Commission on Sept. 20 as part of an excessive deficit procedure initiated against France. Regardless of who will run the next cabinet, the diverse coalition is set to have limited room to reduce the budget deficit.Besides politics, French earnings have also turned into headwinds.
Since the snap election announcement, the valuation premium that French stocks had enjoyed all of last year over other European markets has vanished. While risks for the broader European bloc are now more balanced, France remains a specific case. Domestic stocks — including banks and other stocks sensitive to policy decisions — are also still trailing.
French Stocks Charles-Henry Monchau Political Uncertainty French Firms President Emmanuel Macron Chief Investment Officer
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