Stock market | After the French elections, the European stock markets, which opened higher, quickly recovered

European the stock market recovered quickly from its morning drop on Monday after the French general election. In the elections held on Sunday, the New People’s Front (NFP), consisting of the left and the greens, secured the most seats in the country’s parliament.

The French Dow Jones index fat when opening on Monday, more than half a percent of Friday’s closing price, but exceeded Friday’s closing level by eleven in the morning.

The CAC 40 index, which follows the largest companies on the Paris Stock Exchange, also fell by more than half a percent shortly after the start of trading, but soon rose above Friday’s closing price. A little after noon Finnish time, the index was up 0.5 percent.

Also in Germany, Frankfurt DAX index opened to a gentle decline but recovered quickly and exceeded Friday’s closing level.

A similar rise was also seen the night before Monday in the euro exchange rate. According to the news agency AFP, the exchange rate of the euro fell on the Asian stock exchanges as a result of the French election result, but soon recovered from the sharpest drop.

The general index of the Helsinki Stock Exchange OMX Helsinki PI has remained below Friday’s closing price throughout Monday morning. At 12:20, the index was down 0.3 percent.

Banking group In its Monday morning review, Nordea estimates that the NFP’s win may raise concerns about the debt sustainability of the French government. According to the estimates of Nordea’s economists, the NFP’s economic policy line is revitalizing.

“It is unclear who will become prime minister, but the market’s worst fears, i.e. the majorities of the left-wing bloc or the National Coalition, were still avoided,” bank evaluate.

After Sunday’s second round of elections, no coalition won an absolute majority. The far-right National Coalition won the third most seats in the elections.