(Reuters) – The main European stock markets opened higher on Monday, trying to recover after a sharp decline last week due to financial turmoil linked to the upcoming legislative elections in France.
In Paris, the CAC 40 gained 0.98% to 7,576.59 points around 07:34 GMT. In Frankfurt, the Dax advanced by 0.71% and in London, the FTSE 100 by 0.47%.
The EuroStoxx 50 index gained 1.18%, the FTSEurofirst 300 0.66% and the Stoxx 600 0.64%.
Markets are attempting a rebound after a difficult week, during which the prospect of a victory for far-right or far-left parties in the French legislative elections put strong pressure on sovereign debt, the euro and banking sector stocks.
Investors are particularly concerned about the risks weighing on the budgetary situation of France, the second largest economy in the euro zone.
In terms of values, the French banks BNP Paribas, Société Générale and Crédit Agricole rose from 0.6% to 1.9% at the opening on Monday after having lost between 12% and 16% last week, their most significant decline since the banking crisis of March 2023.
Elsewhere in Europe, the Danish insurer Topdanmark, which will be bought by its Finnish rival Sampo, takes more than 20%.
The Dutch bank ING, for its part, gained 3.4% after announcing its medium-term outlook during its investor day.
(Written by Diana Mandiá, edited by Blandine Hénault)
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