Stéphane Pedrazzi is CNBC's Paris correspondent, covering the French markets and key business events.
Before joining CNBC, Pedrazzi worked at Bloomberg Television, where since 2004 he wrote and anchored the daily flagship morning program "Matin Bourse." Pedrazzi is an experienced financial journalist, having also anchored a number of other Bloomberg programs and having reported live from key European business events.
He previously worked for Radio Classique, reporting on business and political news for six years as their London correspondent. He started his career in journalism in 1992 as a presenter on Classic FM in Lyon.
European stocks are expected to open lower on Wednesday amid concerns over Spain and Greece’s finances and following a rare earnings miss by Apple. With Spain’s borrowing costs soaring after an auction of short term debt on Tuesday an alarm signal was sounded when the cost of borrowing over 5 years rose above the cost of 10 year borrowing.
In just two days, the French people will choose their next president and incumbent Jacques Chirac will become history. Nicolas Sarkozy now seems very likely to succeed him to the presidency.
He’s now the most wanted man in Paris: François Bayrou, 55, leader of the UDF center-right political party, and “third man” of the French election. He hasn’t qualified for the second round, but will play a decisive role in giving -- or not -- his support to one of the remaining candidates. Ségolène Royal (left) and Nicolas Sarkozy (right) are both eyeing at Bayou’s 6.7 million voters with a great interest, but obviously, it’s more crucial for one of them.
It’s probably the worst-kept secret in Paris. Most of the French CEOs will vote for Nicolas Sarkozy on Sunday. But still it has to remain a secret. You never know, should Ségolène Royal become the next president, it could hurt your business and damage your relationship with the government.
As part of the French electoral game, candidates always seal some sort of alliance -- often secretly -- between the two rounds of the Presidential election. But this time the deals are made openly, and even before the first round, which reinforces the feeling that this election may have something special.