French and UK Stocks Outshine European Peers Ahead of Elections
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French stocks outperformed on Thursday, boosting the broader market, as polls showed Marine Le Pen’s National Rally and its allies would fall well short of an absolute majority in Sunday’s French parliamentary election.
The CAC 40 Index rose 0.8% by the close as Ifop said the far-right group was on course to win between 210 and 240 of the 577 seats in the National Assembly, meaning it would lack the 289 lawmakers needed to pass bills easily and push through its agenda. Morgan Stanley strategists, meanwhile, advised buying French stocks, predicting the market to recover after the election.