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The French stock index has grown due to the election results

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The French stock index has grown due to the election results
April 24
09:00 2017

Monday began with the growth of the French stock index by 4%. The reason is obvious – the results of the first round of the presidential elections in the country. As it turned out, Emmanuel Macron has gained almost 24% of the voters’ voices, having got the leader’s position. The extreme right Marin Le Pen with 21.5% of the votes has got the second place. Thus, the analysts were wrong when they supposed that the extreme right and extreme left candidates (both advocating the withdrawal of France from the European Union) would become the leaders.

At the moment, the favourite of the second round of the elections (that will be held on May 7) is Macron. It is expected that he will win the elections with 20% of the advantage.

The largest enterprises in France also show the growth. Thus, the French CAC 40 has risen by 4.2%, papers of the French banks Credit Agricole, BNP Paribas and Societe Generale have soared by 8.4%, 7.8% and 9.2% respectively. Neighbors of France have also shown the serious growth. FTSE 100 of the United Kingdom has increased by 1.8%, German DAX – by 2.7%. The price of UniCredit (Italy) shares has gone up by 10%, Commerzbank (Germany)- by 8%, HSBC Holdings, Barclays and Royal Bank of Scotland (all three –from the UK) – by 1.5%, 4.9% and 2.8% % respectively.

We urge all traders to pay attention to the indexes and shares of French companies. There can be no second chance.

 

The material was prepared with the participation of  Vladimir Haritonov,
a leading analyst of the brokerage company CT-Trade

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