Record share of investors plan to underweight French stocks, BofA survey finds

Deep News10-13 22:40

A record number of investors intend to reduce their exposure to French equities, as domestic political and fiscal pressures weigh on the region's stock market, according to a Bank of America survey.

The poll of regional fund managers found that 56% of respondents plan to underweight French assets over the next 12 months, making France the least favored market in Europe. The survey was conducted from October 2 to October 8.

French stocks and sovereign bonds have been sold off in recent weeks, with financing costs climbing to their highest level in nearly 25 years.

The blue-chip CAC 40 index has fallen 3.8% so far this year, while the broader European benchmark has gained 7.8% over the same period.

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