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Financial Analysts' Reaction to French Vote

CNBC.com
Monday, 23 Apr 2007 | 10:29 AM ET

Financial analysts cheered Sunday's presidential elections in France, which will result in a runoff vote on May 6 between right-wing candidate Nicolas Sarkozy and socialist rival Segolene Royal.

"This is a great result for French business and the CAC," said David Buik of Cantor Index. "France has a chance of dragging itself into the 21st century."

"Stock markets should react positively to these results which were in line with earlier opinion polls," said Michel Martinez, SG Asset Management.

But Francois Chaulet, Mantsegur Finance, had a different perspective. "There are far more important elements to consider than the election results, such as the wave of merger and acquisition activity," he said. "The election's impact is diluted by the fact that most French companies make much of their money outside of France."