Paris Stock Market Climbs Amid Macron’s Efforts to Resolve Political Crisis -

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The Paris stock market surged on Friday as President Emmanuel Macron worked to address France’s ongoing political turmoil.

Chinese markets ended the week with strong gains, reflecting signs of economic recovery, while Seoul’s market declined as South Korea grappled with its own leadership crisis.

Meanwhile, the US dollar strengthened ahead of critical jobs data, expected to provide further insight into the pace of interest-rate adjustments in the world’s largest economy.

Oil prices fell, and bitcoin dropped below $100,000.

The Paris CAC 40 index rose by 1.3% during midday trading, outperforming London and Frankfurt. Analysts, including Derren Nathan of Hargreaves Lansdown, attributed this to optimism that Macron would complete his term and see the budget passed in the coming weeks.

Luxury goods companies also benefited from hopes of increasing Chinese demand, with Kering, owner of Gucci, leading gains on the CAC 40 by climbing over 5%.

Macron engaged in discussions with leaders across the political spectrum on Friday, aiming to appoint a new prime minister after Michel Barnier’s government was ousted in a historic no-confidence vote. Macron, in a national address late Thursday, remained defiant despite the crisis triggered by Barnier’s controversial 2025 budget plan, which bypassed parliamentary approval using special powers.

In Asia, South Korea’s KOSPI index fell more than 1%, and the won dropped to around 1,420 per dollar as lawmakers prepared to vote on impeaching President Yoon Suk Yeol. This followed the fallout from his brief declaration of martial law earlier in the week.

Although analysts believe the economic impact may be limited, the political situation remains unstable. On Friday, the leader of Yoon’s People Power Party called for his resignation, citing risks to the nation.

Meanwhile, Hong Kong and Shanghai markets rallied on hopes of upcoming stimulus measures as China’s top leaders, including President Xi Jinping, prepare for an economic policy meeting. Investors were encouraged by recent data hinting at a possible end to China’s prolonged growth slowdown.

Bitcoin retreated to around $98,000 after hitting a record high of $103,800 on Thursday. The surge followed news that President-elect Donald Trump selected cryptocurrency advocate Paul Atkins to head the US markets regulator. Trump also announced former PayPal COO David Sacks as the White House’s new “AI and Crypto Czar,” a role dedicated to advising on cryptocurrency and artificial intelligence policy.

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