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PARIS LOSES CROWN AS EUROPE’S BIGGEST STOCK MARKET TO LONDON

 * Political risk upends French stocks; UK is deemed attractive
 * UK equities are world’s sixth biggest in terms of market cap

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The Euronext stock exchange in Paris.

Photographer: Nathan Laine/Bloomberg
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By Sagarika Jaisinghani
June 17, 2024 at 2:06 PM GMT+8
Updated on
June 17, 2024 at 3:08 PM GMT+8
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France’s political upheaval has led Paris to lose its spot as Europe’s biggest
equity market to London, less than two years after winning that title from the
UK.

President Emmanuel Macron’s shock announcement of a snap election sparked a rout
that wiped off about $258 billion from the market capitalization of French firms
last week. Shares of banks Societe Generale SA, BNP Paribas SA and Credit
Agricole SA — all big holders of government debt — lost more than 10% each.

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