Emmanuel Macron's centrists gained about 20% of the support.
Left-wing New Popular Front received around 28% of the votes.
Marine Le Pen's National Rally secured approximately 33% of the votes in the first round of French parliamentary elections.
The financial markets experienced a wave of optimism on July 1, 2024, as the results of the first round of French parliamentary elections eased concerns about a potential outright victory for Marine Le Pen's National Rally (RN) party. The French stock market, represented by the Cac 40 index, saw a significant increase of 1.5%, while the euro gained ground against the dollar.
The RN secured approximately 33% of the votes in this round, with left-wing New Popular Front receiving around 28%. Emmanuel Macron's centrist bloc garnered about 20% of the support. However, investors remain cautious as there is still a possibility that RN could emerge from the second round with an overall majority.
Alex Everett, an investment manager at abrdn, stated:
French stock market rose after first round of parliamentary election results
Marine Le Pen’s National Rally (RN) party secured 33% of the votes in the first round
Leftwing New Popular Front secured 28% of the votes in the first round
Accuracy
No Contradictions at Time
Of
Publication
Deception
(100%)
None Found At Time Of
Publication
Fallacies
(95%)
The author makes several statements that are not fallacious. However, there is an instance of an appeal to authority when Krishna Guha's opinion is presented as fact. This lowers the score slightly.
Krishna Guha, an analyst at the US investment bank Evercore, said: “The vote is far from definitive but leans in favour of the less bad scenario of a hung parliament, political paralysis in Paris and chronic dysfunction at the EU level rather than the worse scenarios of an outright win for the far right or far left that might directly lead to a new European sovereign crisis.”
Bias
(95%)
The author expresses a preference for a hung parliament and political paralysis over an outright win for the far right or far left. This is an example of political bias.
“The vote is far from definitive but leans in favour of the less bad scenario of a hung parliament, political paralysis in Paris and chronic dysfunction at the EU level rather than the worse scenarios of an outright win for the far right or far left that might directly lead to a new European sovereign crisis.”
“We are not out of the woods yet. The National Rally exceeded expectations and may yet pick up the second-round votes for a relative or even absolute majority.”
