Paris markets "reassured" by clear U.S. election result

Record ID: 79650

  • Title: Paris markets "reassured" by clear U.S. election result
  • Date: 9th November 2016
  • Summary: PARIS, FRANCE (NOVEMBER 9, 2016) (REUTERS) VARIOUS OF TRADING ROOM AT MONTSEGUR FINANCE COMPUTER SCREEN MANAGING DIRECTOR OF MONTSEGUR FINANCE, FRANCOIS CHAULET, LOOKING AT COMPUTER COMPUTER SCREEN (SOUNDBITE) (French) MANAGING DIRECTOR OF MONTSEGUR FINANCE, FRANCOIS CHAULET, SAYING: "There's been quite a clear victory for Mr. (Donald) Trump, which was announced roughly at the same time as the opening of the European financial markets, which was rather reassuring, especially on the fact that there won't be a lasting, conflicting situation around this election. It is now clear and it has had a rather positive impact on the markets, reassuring the trading session in Europe." FINANCIAL ANALYST IN FRONT OF COMPUTER VARIOUS OF COMPUTER SCREENS (SOUNDBITE) (French) MANAGING DIRECTOR OF MONTSEGUR FINANCE, FRANCOIS CHAULET, SAYING: "It turns out that the speech given by Trump right after his election was a rather reassuring speech, a rather unifying speech, which tends to bring some calm to an extremely ferocious campaign which dramatically divided the country." COMPUTER SCREEN (SOUNDBITE) (French) MANAGING DIRECTOR OF MONTSEGUR FINANCE, FRANCOIS CHAULET, SAYING: "There actually wasn't a notable reverse effect as we saw with Brexit, where the polls were very positive, until the last minute, that the British will stay. Here, we had polls actually supporting Mrs. (Hillary) Clinton but the financial markets didn't bet greatly on Mrs. Clinton's victory. We are therefore now in a situation where the trading session is rather reassuring, with European stock indices rapidly recovering what they lost during the period right before the results." FINANCIAL ANALYST LOOKING AT COMPUTER SCREEN TRADING ROOM AT MONTSEGUR FINANCE
  • Embargoed: 24th November 2016 10:09
  • Keywords: Donald Trump markets France election U.S.
  • Location: PARIS, FRANCE
  • City: PARIS, FRANCE
  • Country: France
  • Topics: Economic Events
  • Reuters ID: LVA00157Q4Y87
  • Aspect Ratio: 16:9
  • Story Text:Trading markets in Europe have been reassured by the clear, quick election U.S. result, fund manager Montsegur in Paris said on Wednesday (November 9).
    The U.S. dollar, Mexican peso and world stocks fell on Wednesday as Donald Trump swept to victory in the U.S. presidential election, but fears of a Brexit-style shock that wiped trillions off global markets has failed to materialize so far.
    European shares were down less than 1 percent and investors were returning to other markets that had been sent into a tailspin as it became clear the Trump was set for a dramatic victory over heavily-favored Democrat Hillary Clinton.
    "There's been quite a clear victory for Mr. Trump, which was announced roughly at the same time as the opening of the European financial markets, which was rather reassuring, especially on the fact that there won't be a lasting, conflicting situation around this election. It is now clear and it has had a rather positive impact on the markets, reassuring the trading session in Europe," Managing Director of Montsegur Finance Fancois Chaulet told Reuters Television.
    Investors fear a Trump victory could cause global economic and trade turmoil and years of policy unpredictability, which among other things could discourage the Federal Reserve from raising interest rates in December as long expected.
    "It turns out that the speech given by Trump right after his election was a rather reassuring speech, a rather unifying speech, which tends to bring some calm to an extremely ferocious campaign which dramatically divided the country," Chaulet said.
    Vows by Trump that he would forge strong relations with other big nations helped ease concerns of heavy tariffs being slapped on selling to the United States and starkly more aggressive geopolitical stance.
    Safe-haven sovereign bonds, the Japanese yen and gold were all giving back ground fast having surged in Asian trading as the election results had come in and, as in the case of the Brexit vote in June, proved polls and betting markets woefully wrong.
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