Le Pen somewhat eases investor concerns with promise not to push out Macron

The selloff in European stocks and bonds paused on Monday after assurances from France’s far-right leader Marine le Pen she would respect political institutions if she wins the upcoming snap parliamentary election

Marine Le Pen said she would not try to push out Emmanuel Macron if she wins France’s snap parliamentary election in an apparent appeal to moderates and investors. Picture: AP/Manu Fernandez

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 $258bn from the market capitalisation of French firms last week. Shares of banks Societé Generale, BNP Paribas SA and Credit Agricole — all big holders of government debt — lost more than 10% each.