🇫🇷 France's money problems have spilled into its stock market, which is now trailing the rest of Europe by the widest gap since 2010.
French stocks are down 3% this year, while Europe as a whole is up more than 7%.
It all started with France's debt, which is now almost as big as its entire economy.
Investors got nervous, dumped French government bonds and pushed borrowing costs to nearly 5%, the highest in almost 25 years.
The panic then hit French banks, which hold a LOT of that debt. Société Générale is down over 20% since August and BNP Paribas 19%.
France's big names were already in trouble. Luxury giants LVMH, Hermès and Kering are all down more than 25% this year, and carmaker Stellantis has lost almost 60%.
"Buying French banks is for the brave," as a fund manager said, and with a budget fight and a presidential election next April, there aren't many heroes lining up.
Turns out Europe's most stylish market isn't so fashionable anymore.
Source: FT / Writer: Julie
💬 9🔁 17
♥ 105👁 20K
Top reply · ♥ 0
WalletX.gg - Profitable Wallets Scraper @Walletxofficial ·
↗
@MarioNawfal ibex, ftse mib, stoxx all up there partying
the cac 40: still under the 100 line




































