French stocks enjoyed a brisk relief rally this week after months of underperformance. But this could turn out to be a blip as France’s political crisis is set to drag on while the country’s stretched public finances will keep long-term investors at bay.
In a year when most of the world’s major stock markets handed investors double-digit returns, France’s CAC 40 Index is in the red, down 1.5%, heading for its worst year of underperformance relative to other European markets in over a decade. That’s in large part due to President Emmanuel Macron’s decision to call a snap general election in June.
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