Populist RN On The Brink Of Winning An Absolute Majority In French Parliamentary Elections; Stock Markets And EUR Strengthen As A Result

The French parliamentary elections are set to take place on July 7th, with the right-wing populist RN on the brink of gaining an absolute majority. Financial markets were relieved that the left-wing alliance did not win more votes. The victory of the RN in the first round was met with a positive response by the stock markets, with the euro also gaining strength against both the dollar and franc.

The European stock markets opened positively on Monday morning, with shares in French banks seeing strong gains. Société Générale and Crédit Agricole shares rose significantly, while French banks also saw strong gains. The RN won 33.2% of the vote in the first round, positioning themselves to become the strongest force in parliament but may fall short of an absolute majority of 289 seats.

President Macron’s camp and the left-wing New Popular Front alliance have announced plans to prevent an absolute majority for the RN in