Investors say they back Sarkozy for president over Royal
Investors and fund managers have said that Nicolas Sarkozy would be a better choice for the French presidency than Segolene Royal from the markets' point of view, an industry body has revealed.
The Association of Investment Managers quoted Frank Rushbrook, deputy manager of the European Assets Trust, as saying that neither candidate offers investors a manifesto that is "completely conducive" for business, although he noted that Ms Royal's intention to nationalise some companies is "particularly disturbing".
However, Roger Guy, manager of the Gartmore European Investment Trust, added that he did not expect to see any "radical changes" if Ms Royal were to succeed.
"The days surrounding the election may lead to a reaction from the markets - a movement up or down, however, we expect this to revert back to pre-election conditions shortly afterwards," he remarked.
Peter Jarvis, co-manager of the F&C European Dynamic Fund, said he expects the French stock market to undergo a "small brief rally" if Mr Sarkozy is elected.
Although Mr Sarkozy won the first round of voting and has been marginally ahead in the polls, neither candidate convincingly dominated in a recent televised debate.
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