Eurozone stock markets and the euro rose on hopes France could avoid a far-right majority in looming polls. The Paris stock market was Europe’s standout performer after more than 200 centrist and left-wing candidates pulled out of Sunday’s election runoff in France. President Emmanuel Macron hopes the move will unify the vote and thus block the far-right National Rally (RN) of Marine Le Pen from gaining power. France votes on Sunday in the final round of snap legislative polls Macron called after his camp was trounced in European elections last month. London stocks climbed, with the opposition Labour Party widely tipped to oust UK Prime Minister Rishi Sunak’s Conservatives on Thursday, according to opinion polls. Wall Street struck new highs a day after comments by Federal Reserve chief Jerome Powell fanned hopes of a US interest rate cut. He said the battle against inflation had made “progress” and the job market was cooling. After a run of above-forecast data and warnings from central bank officials suggesting monetary policy would remain tight for some time, the remarks provided fresh optimism that a cut — and possibly two — was on the way before year-end.
© 2024 AFP
