European stocks rally after first round of French vote

- European stocks rallied on Monday, with French shares leading the way after the far-right National Rally party scored historic gains in the first round of parliamentary election, but by a smaller margin than what some polls had suggested.The RN and allies had 33% of the vote, followed by a leftwing bloc with 28% and President Emmanuel Macron's centrists with just 20%, but the final result will depend on days of horsetrading before the July 7 run-off.

The CAC 40 closed at its weakest level in more than five months on Friday on concerns about France's fiscal discipline under the new government. Nestle rose 1.1% after its CEO said in an interview to a local weekend paper that the Swiss food giant is targeting stable growth in sales volumes from the second quarter throughout the remainder of the year as cost inflation eases.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

Source: News Formal (newsformal.com)

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