The election in France is reflected in the German stock market: The DAX went in a clear direction this morning.
After the first round of the French election, the German stock market started the new trading week with clear gains. The DAX rose by 1.04 percent to 18,426 points in the first few minutes of trading, after ending June and the second quarter with negative results. The MDAX gained 1.21 percent to 25,480 points on Monday morning.
The Eurozone’s leading index, the EuroStoxx, rose by around 1.8 percent. The Paris CAC 40 even rose by 2.6 percent after falling to its lowest level since January on Friday.
Since President Emmanuel Macron dissolved the French parliament and announced new national elections following the European elections that went badly for him, the CAC 40 had fallen by almost 6 percent.
In France, right-wing nationalists and bourgeois parties are fighting for power in the country after the first round of the parliamentary elections. After her first-round victory, Marine Le Pen’s Rassemblement National (RN) hopes to gain an absolute majority in the National Assembly and thus come to power. However, her lead is less clear than feared.
Source: Stern
