France

European politics 1st July 2024

Le Pen wins first round of general elections in France with 33.5% of votes

The first round of the French legislative elections saw the unprecedented rise of Marine Le Pen’s National Rally party with 33.5% of the vote. The left, grouped in the New Popular Front, would win 28%. And President Macron’s party, Together for the Republic, would be left with 21%. The traditional right-wing Republicans won 10% in an election marked by a high turnout. According to polling institutes, it surpassed the 60%…

In Europe 27th June 2024

France elections and markets: a “Liz Truss moment” in the making?

Gregor MA Hirt Global CIO Multi Asset (Allianz GI) | French President Emmanuel Macron called a snap general election following the success of far-right parties in the EU elections in June. The first round of the election is to be held on 30 June followed by a final round a week later. According to the polls, the governing party – President Macron’s Renaissance – is set to lose power although…

European economy 13th May 2024

France brings together 180 global CEOs at 7th “Choose France” summit to attract investment to country

Norbolsa | France is holding the 7th summit known as “Choose France” today, in which Macron will gather 180 CEOs, in an event with which he hopes to attract investment with the aim of reindustrialising the country and reinforcing the Paris hub post-Brexit. It was expected that the amount of investment pledged would exceed last year’s €13bn, with investment commitments from companies such as Amaon, Pfizer and Morgan Stanley, and…

European economy, In Europe 25th October 2023

Business confidence in Germany and France still showing weakness

BancaMarch: Business confidence indicators in Germany and France this morning continue to show weakness in growth in the coming months. In Germany, the composite PMI deteriorated more than expected, falling back to 45.8 from 46.4 and below the 46.7 expected. This performance was mainly explained by a sharp drop in confidence in the German services sector (48 vs. 50.3 previously) while manufacturing continued to contract (40.7 vs. 39.6 previously). In…

Companies, In Europe 21st August 2023

Possible tax on motorway and airport concessionaires in France aims to raise around €2.5 billion between 2024 and 2030

Banco Sabadell| France is considering going ahead with its plan to raise taxes on motorway concessionaires in France and could now also include airport concessionaires. The aim would be to raise some €2.5 billion between 2024 and 2030. In addition, taxes could be raised on first class airline tickets, on larger vehicles because of their higher CO2 emissions, and on companies with fleets of vehicles. We recall that in June…

Companies, In Europe 26th May 2023

French State raises its stake in EDF to 97.69%, plans to reach full ownership by 8 June via squeeze-out

Santander | EDF has announced that the takeover bid for its shares by the French state has raised the state’s stake in the company to 97.69% of the share capital and that the state will now seek to acquire the minority stakes through a squeeze-out process, which it expects to result in full state ownership by 8 June. In addition, EDF issued a press release yesterday to announce that the…

European economy, In Europe, Markets 24th April 2023

Surprise bounce in services flash PMIs in France and Germany means new dilemma for ECB

Santander Corporate & Investment’s flash services PMIs released this morning will once again be a headache for the ECB, as they show an unexpectedly strong rebound in France at a delicate time of rallies (56.3, 53.5e, 53.9p). But also in Germany (55.7, 53.4e, 53.7p). And at a time when services inflation remains one of the real workhorses as our economists recalled after the release of the final March figure a…

European economy, European politics 10th February 2023

France clashes with Germany and Spain over “pink” hydrogen

Banca March | The lack of support from Germany and Spain for labelling nuclear-derived hydrogen – pink hydrogen – as “green” within the European taxonomy has infuriated the French government, which claimed to have the commitment of both countries. The dispute could call into question the construction of a gas pipeline linking Germany and Spain, as well as delaying European green legislation.

Spanish Politics 19th January 2023

The Hispano-French summit in Barcelona and the schizophrenia of Esquerra Republicana de Catalunya

Emmanuel Macron, President of France, the most centralist and Jacobin of European states, will be received today in the most decentralised country on the continent, Spain. The government has chosen Barcelona as the meeting place, the Barcelona mountain of Montjuic, which was the site of the 1929 Universal Exhibition and the 1992 Games, where the pro-independence supporters, led by Oriol Junqueras, await them. The ERC leader pardoned by Sánchez’s government…

European economy, Relevant News Item 23rd August 2022

Business activity in Germany declines for second consecutive month; France activity also drops for first time in 18 months

The downturn in the German private sector economy deepened in August, as business activity fell for the second month running and at a fasterrate in August. This is according to the latest ‘flash’ PMI® data from S&P Global. The deepening downturn was linked by surveyed businesses to a combination of factors, S&P Global noted. These included uncertainty, high inflation and rising interest rates. That said, companies’ expectations registered an uptick…

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