French president Emmanuel Macron spurs market upward bounce

French stocks outperformed upbeat European indices following a convincing parliamentary majority for President Emmanuel Macron, while the banks bounced following upgrades and the country’s retail sector recovered from last week’s losses.

France’s blue-chips gained 1% after Mr Macron cemented an overwhelming parliamentary majority further increasing his party’s capacity to push through reforms.

Banks BNP Paribas, Societe Generale and Credit Agricole underpinned gains on the index.