The Paris financial center was gripped by nervousness, uncertainty and anxiety on Monday as the National Assembly won the European elections and Emmanuel Macron announced the dissolution of the National Assembly. The Paris stock market fell 1.88% in early trading, with similar declines affecting other European markets. In France, where investor confidence is already low, the CAC 40 index fell by 150.75 points to 7,851.05 points.

The banking sector was hit hardest by the uncertainties, with major companies such as Societe Generale, BNP Paribas and Credit Agricole experiencing significant share price declines. Companies that rely on concession contracts signed with the state, such as Eiffage, Vinci and ADP, also saw their share prices fall. The rise of the far right in Europe also weighed on shares in the energy sector, with companies such as Nordek, RVE and SMA experiencing declines.

Emmanuel Macron’s decision to dissolve the National Assembly in an effort to clarify the political situation in France has been met with skepticism by analysts who believe he will face challenges regaining a majority. This uncertainty was reflected in the currency market as well, with the euro falling sharply against the dollar. Investors also showed less confidence in France’s ability to repay its debt as reflected in rising interest rates on French bonds compared to Germany’s bonds.

Overall investors are sending a bad signal to Paris showing less confidence in France’s economic stability and future prospects

By Samantha Johnson

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