London — European stocks headed for their biggest rise in two months on Monday, as investors snapped up cut-price retail and tech stocks, and France’s shares and bonds cheered a meaty parliamentary majority for pro-business President Emmanuel Macron. Europe’s banks jumped too after broker upgrades for Cc, while there was little sign of tension for the sector — or for the pound or euro — as formal Brexit negotiations kicked off in Brussels. Projections showing that Macron had won a commanding majority in France’s weekend vote saw Paris stocks make a 1.1% gain as the country’s bonds also outperformed in fixed income markets. "We expect the Macron reforms to transform France like the Thatcher reforms had cured the erstwhile sick man of Europe, the UK, some 35 years ago," said Berenberg European economist Holger Schmieding. "And like the ‘Agenda 2010’ reforms had turned Germany from one of the weakest into one of the strongest economies in Europe almost 15 years ago." Asia had kicked of...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.