European Stocks Fall on Unrest in France as Nasdaq Bounces
Violent unrest and wider fiscal doubts lifted borrowing costs as investors questioned how France will rein in its deficit.
- On Monday, French financial markets tumbled as the CAC 40 index fell 1.1% and 10-year OAT yields jumped to 4.94%, reacting sharply to weekend unrest that shook investor confidence in fiscal stability.
- Weekend marches against rising living costs and public service conditions involved about 550,000 participants and descended into rioting and looting in Paris, Lyon, and Marseille, resulting in nearly 2,400 arrests.
- Retailer Carrefour CEO Alexandre Bompard reported over 1,500 shops were targeted, with repair costs exceeding €10 million, while the OAT-Bund spread widened to 146 basis points, reflecting investor risk concerns.
- Prime Minister Sébastien Lecornu chaired emergency talks on Monday, calling for local curfews and warning a state of emergency could be imposed "if needed," while President Emmanuel Macron condemned the "unbridled" violence.
- Ratings agency Moody's will review France's Aa3 credit rating on Friday, as political uncertainties ahead of the 2027 budget debate and presidential election raise prospects of further pressure on borrowing costs.
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175 Articles
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Welcome back to the City AM FTSE 100 liveblog. London’s blue-chip index is set to extend Monday’s losses this morning after a bruising showing following tension in European bond markets. A bond-sell off hit Europe following tensions in France after the Prime Minister introduced a curfew to contain explosive riots. The 10-year yield on French [...]
AI stocks lead a rebound on Wall Street as European markets drop following protests - WXXV News 25
By STAN CHOE NEW YORK (AP) — Stocks in the artificial-intelligence industry bounced back on Wall Street Monday and recovered some of their steep losses from last week, but the rest of the market and stocks worldwide were shaky. The S&P 500 rose 0.4%, coming off its worst week since June, and the Nasdaq composite rallied 1.1% because it’s full...
The actions linked to artificial intelligence boosted the American advance, while the riots in France and Italy raised the concern for sovereign debt and pressured the squares of the continent
European stocks fall on unrest in France as Nasdaq bounces
NEW YORK: Paris and Milan equities led a retreat across European stock markets Monday (Oct 19) as escalating violence across France and street clashes in Italy's financial capital fuelled concerns over elevated debt.Most sectors were dragged lower, while there was renewed selling of bonds
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