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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
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
French stocks and the euro boosted by election results
  + stars: | 2024-07-01 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +1 min
London CNN —French stocks and the euro rallied Monday after results from the first round of elections suggested the far right will inflict a heavy defeat on President Emmanual Macron but fall short of winning an outright majority in parliament. France’s CAC 40 index, which represents 40 of the biggest companies listed in Paris, rose 2.7% at the open. The euro, which tumbled after Macron called the snap election on June 9, touched the strongest level against the dollar in more than two weeks. Macron’s Ensemble alliance slumped to a dismal third with 20.76%, according to final results published Monday by France’s Interior Ministry. “The immediate reaction is one of a relief rally.”This is a developing story and will be updated.
Persons: Emmanual Macron, Macron, Le, ” Mohit Kumar, Jefferies, Organizations: London CNN, Popular Front, France’s Interior Ministry Locations: Paris, Europe
For many, France feels like a very different place on Monday. The results from the first round of legislative elections, held on Sunday, revealed a country deeply fractured, with a surging far right winning a record number of votes and the near collapse of President Emmanuel Macron’s centrist party. “The far right at power’s door,” the cover of Le Parisien, a daily newspaper, pronounced the morning after the first half of the snap election called by Mr. Macron. “Twelve million of our fellow citizens have voted for a far right party that is clearly racist and anti-Republican,” the left-leaning Libération newspaper declared in an editorial, referring to Marine Le Pen’s National Rally party. If the National Rally takes an absolute majority in the runoff on Sunday, Mr. Macron will be forced to appoint a prime minister from its ranks, who will in turn form a cabinet.
Persons: Emmanuel Macron’s, Le Parisien, Macron, Organizations: Republican, Rally Locations: France
France’s Snap Elections: What to Watch For
  + stars: | 2024-06-30 | by ( Aurelien Breeden | ) www.nytimes.com   time to read: +1 min
Voters are choosing their 577 representatives in the National Assembly, the country’s lower and more prominent house of Parliament, which will determine the future of Mr. Macron’s second term. A new majority of lawmakers opposed to Mr. Macron would force him to appoint a political opponent as prime minister, radically shifting France’s domestic policy and muddling its foreign policy. Mr. Macron, who has ruled out resigning, cannot call new legislative elections for another year. France’s nationalist, anti-immigrant National Rally party is widely expected to dominate the race. Mr. Macron’s centrist Renaissance party and its allies are expected to lose many seats.
Persons: Emmanuel Macron, Macron’s, Macron Organizations: National Assembly, National, Renaissance Locations: France
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
CNN —Marine Le Pen’s far-right National Rally (RN) party has taken the lead in the first round of France’s parliamentary elections on Sunday, initial projections showed, as President Emmanuel Macron’s party slumped to third place. The RN election party in the northern town of Henin Beaumont erupted in celebration as the results were announced. “Nothing has been won – and the second round will be decisive,” she said. Sunday’s vote was held three years earlier than necessary and just three weeks after Macron’s party was trounced by the RN at the European Parliament elections. Total voter turnout on Sunday is expected to be 65.5%, the highest in a first round of parliamentary elections since 1997 – according to Ipsos estimates.
Persons: Emmanuel Macron’s, IPSOS, Pen, Jean, Marie Le Pen, Henin Beaumont, Le Pen, , Jordan Bardella, , – France’s, Macron Organizations: CNN, Front, Rally, National Assembly Locations: Henin, France
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
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 National Rally party won a crushing victory in the first round of voting for the French National Assembly, according to early projections, bringing its long-taboo brand of nationalist and anti-immigrant politics to the threshold of power for the first time. Pollster projections, which are normally reliable and are based on preliminary results, suggested the party would take about 34 percent of the vote, far ahead of President Emmanuel Macron’s centrist Renaissance party and its allies, which got about 21 percent. But the National Rally now looks very likely to be the largest force in the lower house, although not necessarily with an absolute majority. A coalition of left-wing parties, called the New Popular Front and ranging from the moderate socialists to the far-left France Unbowed, won about 29 percent of the vote, according to the projections. Turnout was very high, reflecting the importance accorded by voters to the snap election, at over 65 percent, compared to 47.51 percent in the first round of the last parliamentary election in 2022.
Persons: Emmanuel Macron’s, France Unbowed Organizations: National Rally, French National Assembly, Renaissance Locations: France
Minutes after the humiliating defeat, in an apparent attempt to call voters’ bluff, Macron said he could not ignore the message sent by voters and took the “serious, heavy” decision to call a snap election – France’s first since 1997. The first round of votes eliminates weaker candidates ahead of the second round next Sunday. Typically, only a handful of deputies will be elected this way – but most will go to a second round. Only those who win more than 12.5% of ballots cast by registered voters are allowed to stand in the second round. Attal was reportedly among the last of Macron’s inner circle to learn that a snap election was imminent.
Persons: Emmanuel Macron’s, Macron, – France’s, France’s, , Jacques Chirac, Lionel Jospin, Jordan Bardella, Gabriel Attal, Manuel Bompard, Dimitar Dilkoff, Le Pen, Jean, Marie Le Pen, Luc Melenchon, Raphael Glucksmann, Gabriel Attal –, Attal Organizations: CNN, Assembly, National Assembly, French, France Unbowed, Front, Macron, Ensemble Locations: France, Europe, Paris, AFP,
With Macron and Biden Vulnerable, So Is Europe
  + stars: | 2024-06-29 | by ( Roger Cohen | ) www.nytimes.com   time to read: +1 min
This month, President Biden, flanked by President Emmanuel Macron of France, stood on the Normandy bluffs to commemorate the young men who clambered ashore 80 years ago into a hail of Nazi gunfire because “they knew beyond any doubt there are things worth fighting and dying for.”Among those things, Mr. Biden said, were freedom, democracy, America and the world, “then, now and always.” It was a moving moment as Mr. Macron spoke of the “bond of blood” between France and America, but just a few weeks later, the ability of either leader to hold the line in defense of their values appears more fragile. The United States and France — pillars of the NATO alliance, of the defense of Ukraine’s freedom against Russia and of the postwar construction of a united Europe — face nationalist forces that could undo those international commitments and pitch the world into uncharted territory. A wobbly, wavering debate performance by Mr. Biden, in which he struggled to counter the dishonest bluster of former President Donald J. Trump, has spread panic among Democrats and raised doubts about whether he should even be on the ticket for the Nov. 5 election.
Persons: Biden, Emmanuel Macron, , Macron, Mr, Donald J, Trump Organizations: NATO, Russia Locations: France, Normandy, America, United States, Europe
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
There are 28 days until the Summer Olympics opening ceremony, and tests from the historic Seine River show the water is still at dangerous contamination levels for E. coli, which is often linked to fecal bacteria. AdvertisementAlong with the triathlon events, marathon swimmers are scheduled to dive into the river for their events. The three triathlon events will span from July 30 to Aug. 5, while the marathon swimming races will be on Aug. 8 and 9. The latest findings marked the third consecutive week that samples from the river had unsafe levels of bacteria related to fecal matter. Both have said they plan on swimming in the river themselves to prove its cleanliness.
Persons: Paris, Tony Estanguet, Emmanuel Macron, Paris Mayor Anne Hidalgo, Miguel Medina Organizations: Eau de, World Triathlon, CBS, Games, Paris Mayor, Getty Locations: Eau de Paris, Paris, AFP
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
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“Hard to watch” is how multiple foreign diplomats described Thursday night’s debate between Biden and Trump to CNN. I had difficulties understanding what he was saying, and I understand English pretty well,” said a second European diplomat. Biden’s debate flop was front-page news across Europe, with left- and right-leaning newspapers excoriating the president – even in France, where the country has its own elections coming up this weekend. “There are many options that are discussed, but we don’t see, any that are self-evident,” the first European diplomat said. Moscow’s state TV station, Russia 1, lampooned Biden’s debate performance.
Persons: Joe Biden’s, Donald Trump, Trump, Biden, , “ Trump, , , Vladimir Putin, Putin, ” Trump, Radek Sikorski, “ Marcus Aurelius, Commudos, didn’t, Kamala, Harris, Trump’s, Volodymyr, Zelensky, Biden pilloried, Joe’Matosed ”, “ Biden, Biden’s, Emmanuel Macron’s, Ansa, Russia’s, Olga Skabeeva laughingly Organizations: CNN, Biden, NATO, Democratic Party, , , strongmen, Arab, Financial Times, Sun, Guardian, Monde, TV Locations: Europe, East, Asia, European, Arab, Asian, France, Russia, Ukraine, Russian, Afghanistan, Polish, California, Israel, British, Atlanta, Greece’s, Italy, Puglia
London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.
Persons: Joe Biden, Donald Trump, shrugged, , Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, , Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, , Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, , North America, United States, Canada, Berlin , Vermont, Eastern Europe, America
Brimming with entrepreneurs and around 1,000 startup companies, it embodies France's exciting tech industry. So if you could rank Europe's tech hubs, what would be your top three? But I'm really excited about Lisbon actually, I know the Mayor of Lisbon pretty well, have been hearing really positive things. I mean things like that could just be completely deprioritized, which is essentially what has been helping us move things forward in France. Under Macron what have been for you the big positives that have come out of his presidency and tech push more broadly.
Persons: Tom Chitty, Roxanne Varza, Bruno Le Maire, Tom Chitty The, you'll, Arjun, I've, Roxanne, Macron, we'd, we've, Tom Chitty Let's, Xavier Niel, he's, Roxanne Varza That's, we're, I'm, Roxanne Varza Paris, Tom Chitty Arjun, Arjun Kharpal, What's, There's, you've, haven't, They're, Roxanne Varza Big, Tom Chitty U.S, Arjun Kharpal It's, who's, that's, there's, they've, we'll, Tom, Tom Chitty We'll Organizations: Meta, Google, CNBC, Uber, Accel, Dealroom, Mistral, Viva Tech, Sequoia Capital, Big Tech, Microsoft, French Finance, London Stock Exchange, London . Locations: Paris, France, French, Europe, beyondthevalley@cnbc.com, London, Berlin, U.S, Silicon Valley, Palo Alto, Bay, Amsterdam, Lisbon, Old, Shoreditch, London . Tel Aviv
His prime minister was among the last to know. That is how secretive, how confined to a small group of advisers President Emmanuel Macron’s shock decision to dissolve Parliament and call French legislative elections was. Gabriel Attal, 35, was a personal favorite, his wunderkind, when Mr. Macron named him prime minister in January. Mr. Macron’s style has always been intensely top-down, but this time he has played with the possibility of ushering in the once unthinkable in the form of a far-right government. A photograph posted by Mr. Macron’s official photographer on Instagram captured the dismay when, on June 9, Mr. Macron told his government of his decision.
Persons: Emmanuel Macron’s, Gabriel Attal, Macron, dumbfounded, Instagram, Attal, Darmanin Organizations: National Rally
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
CNN —France’s snap parliamentary election is one of the most momentous in decades, for both the country and the rest of Europe. Politicians rarely call an election when their party trails in the polls and there is no need to do so. Although Macron was elected to a second presidential term in 2022, his party failed to win an outright parliamentary majority. One theory about why Macron called an election now is that France might soon have been forced to the polls anyway. With Le Pen seeming increasingly likely to succeed him as president in 2027, this election may force her party to take up responsibility beforehand.
Persons: CNN —, Emmanuel Macron, he’ll, ” Kevin Arceneaux, , France’s, Macron, Pen, Antonio Masiello, , Laure Boyer, Hans Lucas, Gabriel Attal – Macron’s, Jordan Bardella, Bardella, Le Pen, Denis, Eric Ciotti, Jordan Bardella's, Julien De Rosa, Jean, Luc Mélenchon, Raphaël, Sylvain Thomas, Mujtaba Rahman, , Rahman, , Jordan, we’re, Macron –, I’m Organizations: CNN, Paris hamstrung, , Sciences Po, Fifth, Assembly, National Assembly, Palais Bourbon, Getty, Sorbonne university, Socialists, New, Eurasia Group Locations: Europe, France, Paris, Fifth Republic, Italy, AFP, Seine, Montpellier, Brussels, Ukraine, Kyiv, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacron's government provided 'amazing environment' for tech sector growth: Vestiaire Collective CEOMaximilian Bittner, CEO at Vestiaire Collective discusses the company's plans for growth, and explains how the prospect of a change in government might impact the business.
Persons: Maximilian Bittner Organizations: Vestiaire
Read previewPresident Joe Biden's administration is moving toward a plan that would allow US military contractors to deploy to Ukraine for the first time in a limited capacity, CNN reported. Advertisement"The President is absolutely firm that he will not be sending US troops to Ukraine," they added. AdvertisementThey also said that the move would likely see numbers from just a few dozen, up to around 200, contractors in Ukraine at any one time. In February, European leaders balked at French President Emmanuel Macron's statement that the deployment of Western troops to Ukraine should not be ruled out. Allowing US private contractors to go to Ukraine would not be the first time that the Biden White House has crossed its self-imposed red lines regarding support for Ukraine.
Persons: , Joe Biden's, Biden, Emmanuel Macron's, Macron Organizations: Service, CNN, Pentagon, Business, NATO, Biden White Locations: Ukraine, Iraq, Afghanistan
In France, a snap National Assembly election has delivered a distressing first-round victory for Marine Le Pen, long the bête noire of European liberalism, and a humiliating defeat for President Emmanuel Macron, almost a caricature of the continental elite. At present, the British elections appear set to deliver for Labour the most thumping victory any party has achieved in any mature democracy for at least a generation. Some suggest a 4-to-1 margin is plausible, and Conservative efforts to warn voters of a coming left-wing supermajority appear to have backfired, making them instead much more likely to support Labour. (And the party is expected to only win about 40 percent of the national vote in a low-turnout election.) But after 14 years of Tory government, a 3-to-1 or 4-to-1 Labour Parliament would still be a truly historic shift.
Persons: Emmanuel Macron, Keir Starmer Organizations: Labour, Tories Locations: France, Britain
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