Premarket: Stocks fall in Europe as markets price in French political risk

European stocks fell on Friday as French stocks and bonds took a battering from political turmoil, while elsewhere investors weighed up the U.S. rates outlook after a week of mixed signals.

France’s finance minister said the country faces the risk of a financial crisis if the far right were to win a snap election in the coming weeks. But Derambure added that the risks are “very different from 2017″ because the RN is not talking about taking France out of the European Union.The euro was down 0.6 per cent on the day at US$1.067175, its lowest in more than six weeks, in a move analysts said was due to the risk premium on European markets following the European elections last weekend, where gains by far-right parties dealt a blow to the leaders of France and Germany.

“It’s very likely that the last mile on the disinflation process will require some weaker growth and weaker demand … the numbers that we have seen this week are clearly going into that direction,” said Amundi’s Derambure. Japan’s Nikkei closed 0.24 per cent higher at 38,814.56, while Hong Kong’s Hang Seng dropped 0.94 per cent to 38,814.56.

Source: News Formal (newsformal.com)

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