France Is Now Europe’s Least Favored Stock Market, BofA Says
- Investors most likely to underweight France in coming months
- Fund managers turn less certain about further gains in Europe
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The fallout from President Emmanuel Macron’s decision to call a snap election has made French stocks the least popular in Europe, according to a Bank of America Corp. survey.
Investors were more likely to be underweight French equities than any others in Europe over the coming 12 months, according to the bank’s latest poll of fund managers in the region, a sharp swing from May when it was their top choice. The preference among investors has instead shifted to pro-defensive stocks and sectors.