CNBC Daily Open: Le Pen's 28-year old protégé

Traders work on the floor of the New York Stock Exchange during morning trading on Feb. 14, 2024 in New York City.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribedespite inflation falling to its 2% target ahead of the upcoming general election.

While Marine Le Pen has moved the far-right party to the center, her 28-year old protégé Jordan Bardella could define France's future. Bardella, with familial roots in Algeria and Italy, grew up in the much-maligned Paris banlieues, symbolizing inequality in the French capital,if his party doesn't secure an absolute majority in the upcoming parliamentary election.

"For while the National Rally's rise in part reflects a successful political strategy, it is also an expression of the failure of Europe's mainstream to address vital issues such as the cost of living over decades," writes Downing. "This inability to deliver the basics is a key reason why many voters are now turning to the far right."more than the U.K. and Spain as a proportion of GDP. From February 2021 to May 2023, France spent $98.

Naeem Aslam, CIO of Zaye Capital Markets, said, "It is imperative the economic manifestos are relayed in a clear and concise manner and, more importantly, that they can generate growth in the country. Given the popularity of the right-wing, investors are concerned that things can go wrong very quickly if an inappropriate approach is adopted."

Whatever the outcome of the upcoming elections, investors must be hoping that, like Italy's Giorgia Meloni, the French far-right will moderate its policies when in power.CNBC's Dylan Butts, Jenni Reid, Ryan Browne, Sarah Whitten, Karen Gilchrist, Holly Ellyatt and Sean Conlon contributed to this report.

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