French stocks are expected to open sharply higher as the far right lacks an absolute majority

On July 1st, French stock index futures opened up 2.8%. The market expects the French stock market to open sharply higher today, because the market does not expect the far right to gain an absolute majority after the first round of elections on Sunday. Deutsche Bank strategists said in a report that the victory of the far right in the first round of elections in France may not be as convincing as the final polls suggest, while other parties now seem willing to form a coalition in the second round of voting, which may further reduce the chances of the far right gaining an absolute majority in parliament. This boosted euro and European stock index futures.