2 hours ago
French stocks rise after left-wing coalition wins surprise election victory
French stocks rose on Monday as markets reacted to a surprise left-wing victory in France’s parliamentary elections.
The CAC 40 erased the previous day’s losses and was up 0.5% by 10 a.m. London time (5 a.m. Eastern time). The euro was flat against the dollar and bond markets were also trading relatively weak.
Francois Digard, head of French equity research at Kepler Chevreux, said a hung parliament was something the market had expected.
“As expected, we had a hung parliament and the markets reflected that last week. People were expecting it to be more to the right and it ended up being more to the left,” he told CNBC on Monday.
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Katrina Bishop
5 hours ago
Boeing agrees to plead guilty
Months after federal prosecutors alleged that aircraft maker Boeing Co. violated a 2021 settlement that gave it immunity from prosecution, the company agreed to plead guilty to fraud charges.
Under the settlement announced late Sunday, Boeing will pay a $243.6 million fine, install an independent compliance monitor over three years and invest at least $455 million in compliance and safety programs. The settlement requires federal court approval before it can take effect.
In 2021, Boeing reached a $2.5 billion settlement with the Department of Justice over charges related to the fatal 737 MAX crashes. The agreement included an initial criminal penalty of $243.6 million, compensation to the airlines, and a $500 million fund for the victims’ families. Lawyers for the victims’ families said they plan to ask the federal judge overseeing the case to reject the settlement and send the matter to a public trial.
— Leslie Josephs and Christine Wang
3 hours ago
European stocks open higher
European stocks rose in morning trading on Monday as markets reacted to expectations of a surprise victory for a left-wing coalition in France that would leave parliament in limbo.
France’s CAC 40 index was up 0.2% by 8:35 a.m. London time (3:35 a.m. Eastern time), erasing a day’s loss. The euro was flat against the dollar.
13 hours ago
