Euro Rises as France’s Far-Right Leads First Round with 34 Percent of Vote

Jul 1, 2024, 04:39 AM

The euro edged higher as Marine Le Pen’s far-right party is poised to lead the first round of France’s legislative elections. Following the preliminary results, French stocks surged by the most in nearly two years, with significant gains in banking, defense, and construction sectors. The far-right party secured 34 percent of the vote, leading to a rally in European stocks. Bond prices also edged up in response to the election outcome. Meanwhile, the yen struggles.