Weekly Market Commentary - 17th June 2024

This week we witnessed significant volatility in European markets after nationalist parties made big gains in the European parliamentary elections. In France, president Emmanuel Macron called a snap election in a gamble that when it comes down to it voters will be less keen to put hard-liners in charge in Paris. With his party already a minority in the National Assembly, Macron is already facing problems passing new legislation and the final calculation is that even if RN win it could stop Le Pen winning the 2027 presidential election, as a few years in control of the French parliament may put the French public off RN for good.

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