French small-cap stocks reach highs on hopes of reform
Unexpectedly strong election showing from Macron’s party boosts expectations
The CAC Small, which tracks 90 small listings touched an all-time high this week, while the CAC Mid 60 has been trading near highs since Macron’s party won an unexpectedly high number of seats in the National Assembly.
“On a day-to-day basis, we’re now seeing Anglo-Saxon investors coming back into the market,” Raphael Moreau of Amiral Gestion was quoted by the Financial Times as saying.
“If you believe in Macron then it follows that you will be bullish on France and the French economy,” head of equity research at Julius Baer, Patrick Lang said.