Wall Street Breakfast April 25: French Stocks, Euro Stumble After Macron Victory in France

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 25 April 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In a replay of the 2017 election, France's Emmanuel Macron has defeated candidate Marine Le Pen. Semiconductor companies are on tap to be in the spotlight following what has been a tumultuous start to the year. The U.S. pledged another $322M in military financing to help Ukraine. Catch the WSB article here.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.1	Good morning. Today is Monday, April 25th, and I'm your host Julie Morgan.
0:15.9	Our top stories, France, big name chip makers, and the Russia Ukraine War.
0:21.2	A major election in France has stocks and the euro reacting.
0:25.3	What was the outcome and what has been the reaction?
0:28.3	Earnings are said to be released for big-name chipmakers.
0:31.3	What are analysts saying about this industry? And the U.S. has
0:34.4	pledged even more money in military aid to Ukraine. How much more? Let's talk
0:39.4	about it. France's Emmanuel Macron has defeated Marine Le Penh.
0:44.0	This was the second round of a runoff vote
0:46.0	and the first time that country has re-elected a president in two decades.
0:50.0	Official results show Macron getting 58% of the vote in Le Penh 42%.
0:56.9	This victory is smaller than the win during the same contest five years ago.
1:01.2	In a victory speech from the Eiffel Tower he said they need to find an answer to the
1:05.3	anger and disagreements that led so many to vote for the extreme right. Macron said it is his
1:11.1	responsibility and that of those around him to reunite.
1:14.8	But the big question is how did the market react?
1:17.6	The euro opened up half a percent against the dollar, but then it quickly turned 0.8% lower.
1:24.1	Stock markets are not doing so well.
1:25.9	France's CAC 40 starting the week down 1.8% and the Euro stocks 50 off by the same amount.
1:33.1	But one fund manager is calling attention to other factors that could be contributing to the state of the euro and the market.
	...

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