Britain overtakes France to become Europe's largest stock market [Yahoo! Finance]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Yahoo! Finance
Stocks in France were collectively worth $3.13 trillion (£2.47 trillion) on Monday, narrowly below Britain's $3.18 trillion, according to Bloomberg data. It marks a reversal in fortunes after France seized London's crown for the first time 18 months ago. This came as Britain battled the energy crisis, high inflation, and the financial turmoil sparked by Liz Truss's ill-fated premiership Confidence in French stocks has been rocked ever since Mr Macron announced the surprise dissolution of Parliament earlier in June. This led to the Cac 40 stock index in Paris enduring its worst week since 2022, erasing all of this year's gains after hitting record highs just a month earlier. A group of analysts at Deutsche Bank said that apart from Covid, “you would have to go back to the aftermath of 9/11 in 2001 to see such extremes”. Shares in French banks such as BNP Paribas and Credit Agricole – major players on the Cac 40 – slumped by more than 10pc each last week. Both lenders are
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