European Stocks Rise as Investors Look Beyond French Crisis
European stocks gained for a sixth straight session in the longest winning streak since May, as investors weighed the latest developments in turbulent French politics.
The Stoxx Europe 600 Index was up 0.4% by the close in London, with travel and leisure stocks and banks outperforming. The French blue-chip CAC 40 index also rose 0.4%, with banks including BNP Paribas SA and Societe Generale SA among top performers.
Prime Minister Michel Barnier used a constitutional tool to push through parts of the budget without a parliamentary vote earlier this week. That led the far-right National Rally party and the left-wing coalition to push ahead with a no-confidence motion against the government.
National Rally leader Marine Le Pen said in an interview with Bloomberg earlier today that France can overcome the government collapse to deliver a budget in “a matter of weeks” — so long as the next prime minister is prepared to narrow the deficit more slowly.
Source : Bloomberg
