France's shock election has rattled nerves and raised debt crisis talk [CNBC]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
Company Research
Source: CNBC
investors remain spooked ahead of Sunday's vote, with some warning of a potential debt crisis. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella , could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). The centrist alliance — containing Macron's own Rennaissance Party — is seen coming third. Sunday's first-round vote will be followed by a run-off on July 7, and could result in a hung parliament. This uncertainty — combined with the policy pledges of both the left and right — now hangs over markets. The country's blue-chip CAC 40 index is heading for its worst month since May 2023, with major banks Societe Generale and BNP Paribas lower by almost 19% and 11% so far in June, respectively. French bond yields — which move inversely to prices — have been relatively contained. But market-watchers have highlighted France's borrowing co
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