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FX.co ★ CAC 40 Rallies As Bond Yields Drop On Relief At Election Results

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typeContent_19130:::2024-07-01T10:15:00

CAC 40 Rallies As Bond Yields Drop On Relief At Election Results

On Monday, French stocks experienced a significant uptick, accompanied by a favorable movement in bond markets. This was driven by the initial round of voting, which indicated that Le Pen's National Rally fell short of attaining a parliamentary majority.

The CAC 40, the benchmark index, surged by 110 points, or 1.5 percent, reaching 7,589, recovering from a 0.7 percent dip on Friday.

In the financial sector, notable gains were observed among banks: BNP Paribas, Credit Agricole, and Societe Generale saw their shares rise between 3 and 5 percent.

Valneva experienced a 5 percent increase following the European Commission's (EC) approval of marketing authorization for its chikungunya vaccine, IXCHIQ, for individuals aged 18 and above.

Airbus saw its shares climb by 2.4 percent after announcing a binding term sheet agreement with Spirit AeroSystems concerning a potential acquisition of significant operations related to Airbus's business.

Conversely, technology company Atos saw a slight decline in its stock price after reaching an agreement with creditors on the terms of its debt restructuring.

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