The views were gathered from June 7 to June 13, encompassing the majority of last week’s drop, when France’s CAC 40 Index fell the most since in over two years and wiped out US$258 billion ($349.26 billion) in market capitalisation.
The fallout from President Emmanuel Macron’s decision to call a snap election has made French stocks the least popular in Europe, according to a Bank of America survey.
Investors were more likely to be underweight French equities than any others in Europe over the coming 12 months, according to the bank’s latest poll of fund managers in the region, a sharp swing from May when it was their top choice. The preference among investors has instead shifted to pro-defensive stocks and sectors.
