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Europe markets rise, French stocks up 0.4% after left-wing's surprise election win

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French stocks moved higher on Monday as markets reacted to a surprise win for the left in the country’s parliamentary election.

French stocks moved higher on Monday as markets reacted to a surprise win for the left in the country's parliamentary election.

Elsewhere on Monday, Rachel Reeves — the country's newly appointed chancellor of the exchequer — promised to"get Britain building again" in a speech that put housing and planning reform center stage. François Digard, head of French equity research at Kepler Cheuvreux, said a hung parliament was what the market was expecting.

"Last night the far-left were already talking about wealth taxes and increases on taxes on corporates which won't be market-friendly. However trying to build a government that has any kind of stability looks a very high bar this morning. Political paralysis for the next 12 months seems the most likely outcome," they added."We are going to get Britain's economy growing again.

 

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