U.S.-listed French ETFs have seen inflows of $562 million in the past week, the most since Bloomberg began tracking the data in 2015. With polls signaling a victory for centrist candidate Emmanuel Macron in the final vote on May 7, investors are pricing out risks to political and economic stability.
French equities surged 4.8 percent in the six sessions following the first-round vote on April 23, with the CAC 40 Index closing on Tuesday at its highest level since January 2008. Investors have poured $3.3 billion into the country’s ETFs this year.
Banks and luxury shares have led gains, with Credit Agricole SA and Gucci-owner Kering SA up more than 10 percent since April 23.
Source: Bloomberg
Junior Trader Stefan Panteleev
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