(RTTNews) - French stocks climbed on Monday after a shock defeat for the far-right National Rally in France.
A leftist coalition surged to take the most seats in parliament in the second round of elections, but no single political faction got even close to the majority needed to form a government, creating political mayhem that has undermined the president's power and shaken the foundations of the European Union's second-largest economy.
Meanwhile, investors grew more confident about a September U.S. rate cut following last week's softer-than-expected jobs data.
The benchmark CAC 40 was up 67 points, or 0.9 percent, at 7,742 after declining 0.3 percent on Friday.
Banks rallied, with BNP Paribas, Credit Agricole and Societe Generale rising 1-2 percent.
