French unrest and debt fears hit stocks, bonds and euro

Summarised from 2 outlets · Updated 19 Oct, 10:38 · Archive

French government bonds, stocks and the euro fell on Monday amid social unrest and mounting debt concerns.

Social unrest, political instability and mounting national debt weighed on French assets on Monday. Government bonds rose in yield—representing higher borrowing costs for the state—while the Paris-listed CAC 40 index fell nearly 1% in early trading. The euro was down 0.15% against the dollar and 0.13% against the pound. The French 10-year bond yield jumped 7 basis points and remains near its highest level in decades. French yields now surpass those of Italy or Greece, implying higher perceived risk.

Hundreds of thousands of people marched over the weekend in protest over political paralysis, the cost of living and the state of public services including schools and healthcare. Mass gatherings in cities from Paris to Lyon and Marseille saw buildings and cars set on fire, clashes with police and more than 2,000 arrests. One analyst told CNBC: 'It looks like either the bond markets riot, or the people riot, or both.'

How it is being reported

• French retailers reel after weekend of riots, lootingRepresentatives of the French business community gather for a crisis meeting with the government following widespread looting during the weekend's protests. Meanwhile, the country's tourism sector fears a drop in winter holiday bookings, and bond and currency traders sell off French debt and the euro.France 24 · 19 Oct, 11:29
• French unrest compounds debt crisis fears. Paris-listed stocks, bonds and the euro fall"It looks like either the bond markets riot, or the people riot, or both," one analyst told CNBC.CNBC · 19 Oct, 10:07

In this story: France · Paris · Lyon · Marseille · Germany · Italy · Greece · China

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