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☆ Macron breaks his silence on France's election earthquake as post-vote deadlock continues
▼ + stars: | 2024-07-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

French President Emmanuel Macron broke his silence on the political earthquake that took place in France last weekend, calling on mainstream parties to work together to form a coalition government. In an open letter to regional newspapers on Wednesday, Macron said "no one won" the parliamentary election and called on mainstream parties with "republican values" to form a governing alliance. With just 180 seats, the NFP fell short of achieving an absolute majority of 289 in the 577-seat National Assembly, France's lower house of parliament. Macron's centrist 'Together' bloc came second in the ballot with 163 seats, and RN and its allies won 143 seats. They can reject the nomination of a party, if it's not seen to have enough seats to form a stable government.

Persons: Emmanuel Macron, Macron, France's, That's, Luc Mélenchon —, it's Organizations: CNBC, Front, NFP, National Assembly, French Communist Party, Socialist Party, Greens, France Unbowed Locations: France, Le Touquet

☆ CNBC Daily Open: Powell says high rates threaten growth
▼ + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Inching to recordsThe S&P 500 and the Nasdaq Composite inched their way to intraday and record closes as Federal Reserve Chair Jerome Powell warned of the dangers of keeping interest rates high. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. "Putin wants nothing less — nothing less — than Ukraine's total subjugation, to end Ukraine's democracy," Biden said.

Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max, Emmanuel Macron's, Macron, Genuity Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Europe

☆ France's Macron wanted to leave his mark on Europe — he may have just ruined his legacy
▼ + stars: | 2024-07-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

He's credited with creating the European Political Community, bringing leaders from across 50 states in the region to discuss shared challenges and to coordinate joint responses. For now, Macron has rejected his current Prime Minister Gabriel Attal's resignation and on Monday asked him to stay in the post "to ensure the country's stability." Subran stressed that it was vital that Macron was aligned with the future prime minister. It hasn't paid off, and France's uncertain political outlook will likely perturb France's European partners, one French political scientist told CNBC. French President Emmanuel Macron reviews troops that will take part in the Bastille Day parade, July 2, 2024 in Paris, France.

Persons: Emmanuel Macron, Sebastien Salom, Emmanuel Macron's, Macron, —, Tina Fordham, it'll, Fordham, Francois Hollande, Angela Merkel, He's, Germany —, Volodymyr Zelenskyy, Hollande, Gabriel Attal's, Ludovic Subran, Subran, Donald, Trump, — we're, CNBC's Charlotte Reed, it's, Macron's, hasn't, Philippe Marlière, France isn't, Aurelien Organizations: Afp, Getty Images, Fordham Global Foresight, CNBC, NATO, European Union, Socialist, Political, Russia, Ukrainian, Reuters, NFP, Monday, Allianz, U.S, Republican, NurPhoto, EU, University College London Locations: gomis, Europe, France, Washington, Ukraine, Germany, Kyiv, Paris, China, Brussels, Strasbourg, Russia

☆ French election: Macron aims to discredit far-right, CEPS CEO says
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacron's aim is to discredit extreme right, says Centre for European Political Studies CEOKarel Lannoo, CEO of the Centre for European Political Studies, says French President Emmanuel Macron's aim is to discredit the extreme right over the next three years.

Persons: Karel Lannoo, Emmanuel Macron's Organizations: European Political, Centre

☆ French President Macron’s snap election gamble 'did not pay off,' professor says
▼ + stars: | 2024-07-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Macron had called for a new legislative nationwide vote in France after the country's far-right party made significant gains in the European Union election last month. The gamble that French President Emmanuel Macron took when he called a snap election has not paid off, according to Armin Steinbach, Jean Monnet professor of EU Law and economics at HEC Paris. Macron's centrist Ensemble bloc is set to make up the second-largest group in parliament, followed by the RN and its allies. Just because the far-right did not perform as they had hoped in this election does not mean they should be discounted for the presidential election in 2027, Steinbach added. "For today it's a loss for them, … but it doesn't tell us anything about the 2027 presidential election.

Persons: Macron, Steinbach, CNBC's Charlotte Reed, Emmanuel Macron, Armin Steinbach, Jean Monnet, Tina Fordham, CNBC's, Fordham, HEC's Steinbach Organizations: Popular Front, Interior Ministry, Union, EU Law, HEC Paris, Fordham Global Insight, European Union Locations: Paris, France, Steinbach

☆ Euro eases on French poll gridlock, dollar sluggish after US payrolls
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: +3 min

The euro slipped on Monday after projections from France's election pointed to a hung parliament amid an unexpectedly strong showing for a left-wing alliance, spawning fresh uncertainty over the country's fiscal outlook. The euro slipped on Monday after projections from France's election pointed to a hung parliament amid an unexpectedly strong showing for a left-wing alliance, spawning fresh uncertainty over the country's fiscal outlook. The yen headed for a third day of gains after rebounding from last week's nearly 38-year trough to the dollar. The euro was 0.06% lower at $1.0827, and earlier slid as much as 0.4% as investors weighed the consequences of a hung French parliament. The dollar slipped 0.07% to 160.70 yen, down from as high as 161.96 on Wednesday.

Persons: Sterling, Emmanuel Macron's, Chris Weston, Macron, Weston, bitcoin Organizations: Federal Reserve, Labour, Conservative, New Popular Front, Le, Traders Locations: Gox

☆ CNBC Daily Open: French far-right advance blocked
▼ + stars: | 2024-07-08 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Far-right advance thwartedFrance's left-wing New Popular Front coalition unexpectedly blocked a far-right advance in the parliamentary run-off vote, securing the largest number of seats but falling short of an absolute majority. Gox bankruptcy estate confirmed that repayments in bitcoin and bitcoin cash had commenced, likely fueling investor concerns of a massive sell-off. However, recent profit-taking and valuation concerns led to a pullback and a rare downgrade from a Wall Street analyst.

Persons: France's, Jan Hatzius, Goldman Sachs, Bitcoin, Emmanuel Papadakis Organizations: CNBC, Popular Front, Rassemblement, Nasdaq, Dow Jones, Federal Reserve, Novo Nordisk, Novo Nordisk's Ozempic, Deutsche Bank, Harvard Medical, Nvidia, Wall Locations: Europe's, U.S, Gox, bitcoin, Novo

☆ Why markets are 'sanguine' about French election results
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy markets are 'sanguine' about French election resultsElsa Lignos, RBC global head of FX strategy, joins 'Money Movers' to discuss the market implications of the election results in France, Macron's gamble on the snap poll, and much more.

Persons: Elsa Lignos, Macron's Organizations: RBC Locations: France

☆ French bond markets calm despite country hitting political gridlock
▼ + stars: | 2024-07-08 | by ( Matt Clinch | ) www.cnbc.com time to read: +3 min

Anadolu | Anadolu | Getty ImagesGovernment bond markets in France saw some selling early on Monday, but were fairly muted overall despite political gridlock after a second round of legislative elections. Jitters have spread through France's bond market in recent weeks. The 10-year yield topped 3.3% — a roughly 8-month high — after French President Emmanuel Macron called the snap parliamentary election in the middle of June. Meanwhile, the gap (or spread) between French bond yields and German bond yields had topped 85 basis points in recent weeks, hitting its highest level since 2012. He added that the chances of a confrontation with Brussels remained with the left-wing alliance, but not to the same extent as if the National Rally had won.

Persons: Emmanuel Macron, Emmanuel Macron's, —, David Roche, Digard, Kepler Cheuvreux Organizations: New, Republique, Anadolu, Getty, Government, European Commission, Sunday, Popular Front, Independent, National Rally, CNBC Locations: Paris, France, France's, London, Brussels

☆ France avoided a far-right election win — now the radical far-left is demanding power
▼ + stars: | 2024-07-08 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

Founder of left-wing party La France Insoumise (LFI) Jean-Luc Melenchon reacts during the election night of left-wing party La France Insoumise (LFI) following the first results of the second round of France's legislative election at La Rotonde Stalingrad in Paris on July 7, 2024. After the left-wing's election success in France on Sunday, all eyes are now on radical firebrand Jean-Luc Mélenchon who has demanded the left be given the premiership and a chance to govern following its unexpected election win. The New Popular Front (NFP) coalition — of which Mélenchon is the self-appointed figurehead — won the largest number of seats in the second round of France's snap parliamentary election. Europe had braced itself for France's far-right to win the largest number of votes in the second round of France's snap election. French President Emmanuel Macron's centrist "Together" bloc came in second with 163 seats and the far-right National Rally and its allies won 143 seats.

Persons: Jean, Luc Melenchon, Luc Mélenchon, —, Mélenchon, Emmanuel Macron's, Gabriel Attal, Mélenchon —, Hugo Chavez, he'd Organizations: France, La Rotonde, Front, NFP, France Unbowed, Socialist Party, French Communist Party, National Assembly, NATO Locations: La, La Rotonde Stalingrad, Paris, France, Europe

A woman steps out of a polling booth prior to cast her vote in the first round of parliamentary elections in Le Touquet, northwestern France, on June 30, 2024. LONDON — France's left-wing New Popular Front coalition is set to unexpectedly win the most seats in the second round of the country's parliamentary election but fail to clinch an absolute majority, early data showed. By offering voters a starker choice and fewer candidates, RN's opponents hoped that the electorate would choose the non-RN candidate. The prime minister must leave," Jean-Luc Melenchon, leader of the France Unbowed party, said in a CNBC-translated social media update after the release of the early poll data. The final round of the election shows that voters, ultimately, have rejected Macron.

Persons: France's, France Unbowed, Ipsos, Emmanuel Macron's, —, pollster Ipsos, Jean, Luc Melenchon, Macron, Melenchon, Macron's Organizations: LONDON, Popular Front, Socialists, CNBC, NFP, National Rally Locations: Le Touquet, France, Europe's

☆ What a hung parliament in France could mean for markets
▼ + stars: | 2024-07-07 | by ( Matt Clinch | ) www.cnbc.com time to read: +4 min

Emmanuel Dunand | Afp | Getty ImagesInitial indications on Sunday evening for the French parliamentary run-off vote threw up some big surprises, leaving political commentators contemplating a "hung parliament" scenario that could prove challenging for both policymaking and financial markets. With none of the groups expected to hit the 289 seats needed for an absolute majority, gridlock could ensue over the coming weeks. The euro slipped about 0.3% against the U.S. dollar in thin trading on Sunday evening after the exit polls were released. "Regardless, uncertainty about the outlook for French policymaking is likely to be long-lasting," the analysts said. France is facing a challenging fiscal position, and the European Commission announced two weeks ago that it intended to place France under an Excessive Deficit Procedure due to its failure to keep its budget deficit within 3 percent of gross domestic product.

Persons: Emmanuel Dunand, France's, Emmanuel Macron's, policymaking, Jack Allen, Reynolds, Macron, David Roche Organizations: la Republique, Afp, Getty, Popular Front, Rassemblement National, U.S, Citi, Daiwa, European Commission, Capital Economics, Independent, National Rally Locations: France, la, Paris, Italy, Germany

☆ France's left-wing alliance blocks a far-right majority, projection shows
▼ + stars: | 2024-07-07 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

By doing so, Macron hoped the voters would establish a stronger mandate in the lower house and strengthen his influence on the world stage. AdvertisementThe New York Times reported that Macron, without a majority in the lower house and relegated to political maneuvering, said his decision was inevitable. On June 30, the National Rally Party again dealt a huge blow to Macron's Renaissance party and its allies by securing 33% of votes in the first round of voting, which saw a high turnout. AdvertisementMacron's centrist coalition, the Ensemble, which includes the Renaissance party, came in second with a projected 148 seats, while the far-right National Rally came in third with 142 seats. Jean-Luc Mélenchon, leader of the left-wing alliance, called the results an "immense relief for a majority of people in our country," the AP reported.

Persons: —, Emmanuel Macron's, Macron, Pen, Jean, Luc Mélenchon Organizations: Service, Rally, National, Marine, Renaissance, Business, National Assembly, New York Times, National Rally Party, Associated Press, Times, New, The Times, AP Locations: France, Nazi

☆ France's political future hangs in the balance as votes cast in final round of snap election
▼ + stars: | 2024-07-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Francois Lo Presti | Afp | Getty ImagesFrench voters are heading to the polls on Sunday for the second and final round of voting in a snap parliamentary election. By offering voters a starker choice and fewer candidates, RN's opponents hope that the electorate will opt for the non-RN candidate. "For instance, former Prime Minister Edouard Philippe has said voters should vote neither for the RN nor candidates from the far-left France Unbowed (LFI) party. At the same time, current Prime Minister Gabriel Attal has called for everyone to vote against the RN." If the choice was between a far-left and far-right candidate, however, the picture was more nuanced, showing a split vote.

Persons: Francois Lo Presti, Emmanuel Macron's, Jordan Bardella, Antonio Barroso, Edouard Philippe, Gabriel Attal, Ifop, Teneo's Barroso, Harris, Emmanuel Macron, Xi Jinping, Mohammed Badra, Macron, Teneo, Julien De Rosa Organizations: French, Afp, Getty, National Assembly, Front, NFP, Le, Palais des Sports, Nurphoto, Research, Harris Interactive, Reuters, Republicans, Macron's, Chinese Business Council, National Locations: Henin, Beaumont, France, Paris, Franco, Marigny, Garches

☆ French Prime Minister Gabriel Attal to tender resignation
▼ + stars: | 2024-07-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

France's Prime Minister Gabriel Attal gives a speech following the first results of the second round of France's legislative election at Matignon in Paris on July 7, 2024. French Prime Minister Gabriel Attal said he would submit his resignation on Monday, after early poll data showed his and French President Emmanuel Macron's centrist Ensemble party and its allies coming in second in the parliamentary runoff. Attal, who stepped in as France's youngest ever prime minister only in January, is unlikely to hold the country's second-highest position as part of the upcoming administration. Tonight, no absolute majority can be led by the extremes." In light of the run-off results, Attal set the scene for a period of transition for France's political landscape:"Ladies and gentlemen, this evening, a new era begins.

Persons: Gabriel Attal, Emmanuel Macron's, Attal, Jordan Bardella, Macron Organizations: France's, Popular, Republican, CNBC, Rassemblement National Locations: Matignon, Paris, France, Republic

☆ Forget right or left. Voters are sick of whoever's in charge.
▼ + stars: | 2024-07-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though some say right-wing movements are on the rise globally, in this year's elections, that's not universally the case. Andy Soloman/UCG/Universal Images Group via Getty ImagesIn short, voters are just fed up — no matter who's in charge. Voters want a chanceGlobally, it's not hard to see an anti-establishment, anti-incumbency trend playing out. So-called "double haters" — voters who dislike both Trump and Biden — have made up an influential chunk of the electorate in recent polls.

Persons: —, that's, Brian Greenhill, Rishi Sunak's, Andy Soloman, Greenhill, Keir Starmer, Rishi, Emmanuel Macron's, Narendra Modi's, Yoon Suk, Joe Biden, Donald Trump, de, Richard Wike, Sweden —, Wike, Mike Kemp, there's, Biden —, Biden, it's Organizations: Service, Business, SUNY, Environmental, Getty, Voters, Labour, Conservative Party, Reuters, African National Congress, NPR, de Maismont, Pew's, Research, Pew Research, Trump Locations: India, France, SUNY Albany, South Korea, —, United States, AFP, Canada, Germany, Greece, Italy, Japan, Netherlands, Spain, Sweden, America

☆ French stocks jump 2.5% as far right takes election lead but seen falling short of majority
▼ + stars: | 2024-07-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Dimitar Dilkoff | Afp | Getty ImagesFrench stocks staged a relief rally early Monday after results from the first round of the nation's snap election raised expectations of a hung parliament. The far-right National Rally party and its allies won 33.1% of the vote, the left-wing NFP alliance was second with 28% and Macron's coalition secured 20%, France's Interior Ministry said Monday. Stock Chart Icon Stock chart icon CAC 40 index. Stock Chart Icon Stock chart icon Euro/U.S. National Rally is hoping it will be the party's 28-year-old leader, Jordan Bardella.

Persons: Jordan Bardella, Gabriel Attal, Manuel Bompard, Dimitar Dilkoff, Sebastian Paris Horvitz, CNBC's, Matthew Ryan, —, Emmanuel Macron, Macron, Horvitz Organizations: Rassemblement National, France's, France, TF1, Afp, Getty, NFP, La Banque Postale Asset Management, Citi, National, U.S ., National Assembly, — Locations: London, France, Europe

☆ After France's right-wing surge, parties seen scrambling to block a National Rally win
▼ + stars: | 2024-07-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Left-wing and centrist parties in France are scrambling to block the rival National Rally from winning the ongoing parliamentary election, according to analysts, after support for the far-right faction surged in the first electoral round on Sunday. Figures posted on Monday morning by the French Interior Ministry showed that the far-right National Rally (RN) and its allies had secured a combined 33.1% of votes, while the left-wing New Popular Front (NFP) alliance won 28% and French President Emmanual Macron's centrist Together bloc garnered 20%. The outcome of the first round of the election has led to discussions from left-wing and centrist politicians about how to minimize the amount of parliamentary seats secured by the RN in the second round of voting on July 7. "Our objective is clear: to prevent the National Rally from having an absolute majority in the second round, from dominating the National Assembly and from governing the country with the disastrous project that it has," French Prime Minister Gabriel Attal, a Macron ally, wrote on social media platform X late on Sunday according to a CNBC translation. "I say it with the force that the moment demands to each of our voters: not a single vote must go to the National Rally," he added.

Persons: Danielle Simonnet, NUPES, LFI, Celine Verzeletti, Jean Luc Melenchon, Emmanual, Gabriel Attal Organizations: La France, National Rally, French Interior Ministry, Front, National Assembly, CNBC, National Locations: Paris, France

☆ European markets head for higher open as investors digest French election's first round results
▼ + stars: | 2024-07-01 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. LONDON — European stocks are expected to start the new trading week higher as investors in the region digest the results of the first round of France's snap parliamentary election. European markets will be reacting to the results of the first round of the snap parliamentary election in France in which there was a sharp upswing in votes for the anti-immigrant National Rally party. Initial results point to it struggling for an absolute majority in the second round of voting that takes place on July 7, however. Overnight, Asia-Pacific markets started the second half of the year mixed as investors assessed June business activity data from China as well as Japan's business confidence readings.

Persons: Christophe Versini, Jordan Bardella, Germany's DAX, Emmanuel Macron's Organizations: Rassemblement National, LONDON, CAC, IG, National Rally, British Foods Locations: France, Asia, Pacific, China

☆ France's far-right National Rally seen leading in first round of snap election, exit polls show
▼ + stars: | 2024-06-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

The first round of a snap parliamentary election in France points to a surge in votes for the anti-immigrant National Rally party, with President Emmanuel Macron's centrist alliance coming into third place. Early polling data from national broadcaster France 2 indicates that National Rally (RN) won 34% of the vote while the leftist New Popular Front (NFP) alliance got 28.1%. If no candidate meets that standard, a second round of voting is held, listing the top two candidates and any other candidates who secured more than 12.5% of registered voters' support. The second round of voting on July 7 is the one to watch, according to Antonio Barroso, deputy director of Research at Teneo. As such, National Rally is widely expected to significantly increase the number of seats it has in France's 577-seat parliament, the National Assembly, from the current level of 89.

Persons: Emmanuel Macron, Emmanuel Macron's, Antonio Barroso Organizations: Nexus Institute, National Rally, France, New Popular Front, Research, NFP, National Assembly Locations: The Hague, Netherlands, France, Teneo

☆ France votes in snap election that could hand power to the far right
▼ + stars: | 2024-06-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Vandalized posters with images of local candidates for the European Parliament election mixed with those from the first round of the 2024 French legislative elections, seen on June 24 2024, in Val d Arry, Calvados. France will hold an early legislative election in two rounds on June 30 and July 7 2024, following President Emmanuel Macrons decision which was triggered by his party's heavy defeat to the far-right National Rally in the 2024 European Parliament election. Nurphoto | Nurphoto | Getty ImagesFrench voters are heading to the polls on Sunday for the first round of voting in a snap parliamentary election that could see the far-right National Rally group become the biggest party in France's National Assembly, polls suggest. Calling the snap election, which will involve two rounds of polling on Sunday and on July 7, Macron said the vote would provide "clarification" and that "France needs a clear majority to act in serenity and harmony." French President Emmanuel Macron waits for guest arrivals for a conference in support of Ukraine with European leaders and government representatives on February 26, 2024 in Paris, France.

Persons: Emmanuel Macrons, Emmanuel Macron, Jordan Bardella, Macron, Le Pen, Jordan Bardella —, Pen, Peter Garnry, Giorgia Meloni, George Dyson, Dyson, Ludovic Marin Organizations: Nurphoto, Getty, National Assembly, National, Analysts, Chesnot, New Popular, National Rally, Le, Palais des Sports, Saxo Bank, Risks, Republicans, Renaissance, Nexus Institute, AFP Locations: Val d, Calvados, France, Ukraine, Paris, Germany, The Hague, Netherlands

☆ The far-right has taken another step toward power in France's elections
▼ + stars: | 2024-06-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +1 min

The far-right scored a major win in the first round of parliamentary elections in France. Marine Le Pen's National Rally won roughly 34% of the vote, per projections. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe far-right National Rally has opened up a lead in the first round of critical parliamentary elections in France, with results that could soon spell the end of the centrist government alliance backed by French President Emmanuel Macron.

Persons: Emmanuel Macron, — Organizations: National, Service, French, Popular, Macron's, Business Locations: France

☆ France's far right looks headed for victory in the first round at the polls. Here's what that means
▼ + stars: | 2024-06-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Nurphoto | Getty ImagesWith just days to go until France's snap parliamentary election kicks off, victory for the far right looks increasingly likely in the first phase of the two-stage runoff. But predicting the outcome of France's final vote on July 7 is less clear-cut, given the complexity of France's voting system. Voter turnout for the national election is also expected to be larger — and therefore more representative — than the 51% who cast their ballot in the EU vote. With that in mind, analysts see a 30% to 40% chance of the National Rally winning the 289 seats needed to secure an absolute majority in the 577-seat National Assembly. A majority government for either the far-right or the ultraleft alliance, meanwhile, could spark a far more dramatic outcome.

Persons: Jordan Bardella, Emmanuel Macron's, Schmieding, — Organizations: National, Palais des Sports, Nurphoto, Elabe, CNBC, Macron, National Rally, National Assembly, Berenberg Bank, Citi Locations: French, Le, Paris, France

☆ France's election has the ability to rock wider European stocks, Citi strategist says
▼ + stars: | 2024-06-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

France's parliamentary election has already rattled investors as the country's risk premium rises — but two possible scenarios have still not been priced in by markets and could impact stocks in the wider European region, according to Citi. "However, the market is not priced in for far-right or far-left majority," Manthey said. "The outcome is still quite unclear, we only have polling for the first round of the election. "Let's put the announcement of the election in the context of the positioning of the investors. If the French election outcome "is very market unfriendly ... markets in Europe are quite correlated.

Persons: Beata Manthey, CNBC's, Manthey, Emmanuel Macron's, Let's, we've Organizations: Citi, CAC Locations: Sunday's, Europe, U.S

☆ France's shock election has rattled nerves and raised debt crisis talk
▼ + stars: | 2024-06-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella, could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). French bond yields — which move inversely to prices — have been relatively contained. Even then, he added, the spread of French bond yields over their German counterparts looked set to remain higher than before Macron called the election. There is little concern over France enacting its own "Frexit," he said, with even National Rally having moved away from actively proposing leaving the euro area or the European Union.

Persons: Christophe Versini, Jordan Bardella, Magali Cohen, Emmanuel Macron, Sunday's, Giorgia Meloni, Viraj Patel, Patel, Liz, Truss, Andrew Kenningham, Macron, Kenningham, François Mitterrand, Christian Keller, CNBC's, Keller Organizations: Rassemblement National, Afp, Getty, National Assembly, Societe Generale, BNP, Vanda Research, Capital Economics, European Central Bank, Bank of England, Barclays, European Union Locations: Germany, Italy, Europe, France, Britain

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