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CAC 40 Rallies As Macron Secures Parliamentary Majority


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(RTTNews.com) - French shares rose sharply on Monday after voters gave President Emmanuel Macron's upstart party a solid victory in Sunday's second-round election, handing him a mandate to push through reforms to reinvigorate the economy.

Investors also awaited the start of formal Brexit talks between the U.K. and the European Union.

The benchmark CAC 40 was up 54 points or 1.02 percent at 5,317 in late opening deals after climbing 0.9 percent on Friday.

Automakers also gained ground, with Renault rising 0.8 percent and Peugeot climbing 1.7 percent.

Pharmaceutical firm Ipsen rose over 2 percent on receiving FDA approval for Dysport injection used for the treatment of lower limb spasticity in adults.

Aerospace giant Airbus advanced 1.5 percent after unveiling an upgraded version of the world's biggest passenger jet.

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This article appears in: Stocks , World Markets , Politics


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