France’s route out of political turmoil once again reached an impasse on Monday as Prime Minister Sébastien Lecornu resigned less than a day after his cabinet was unveiled.
The news jolted already-wary investors, pushing French stocks down and bond yields up.
As of around 10.30 CEST, the CAC40 Index was down around 2% at 7,916.36. The yield on 10-year French bonds rose seven basis points to 3.58%, widening the gap with the yield on 10-year German bonds to a nine-month high.
The euro, meanwhile, fell against most major currencies excluding the Japanese yen, notably falling 0.55% against the dollar.
The news jolted already-wary investors, pushing French stocks down and bond yields up.
As of around 10.30 CEST, the CAC40 Index was down around 2% at 7,916.36. The yield on 10-year French bonds rose seven basis points to 3.58%, widening the gap with the yield on 10-year German bonds to a nine-month high.
The euro, meanwhile, fell against most major currencies excluding the Japanese yen, notably falling 0.55% against the dollar.
