French defence, construction stocks up after first round of election
** French defence and construction stocks rise after a far-right win in Sunday's first round of voting that somewhat eased investors' uncertainty
** "Uncertainty around the second-round results remains high, but a cohabitation outcome has become more likely than it was before," says Barclays in a note
** The brokerage says the two likely outcomes are a hung parliament with no immediate absolute majority or a National Rally cohabitation government
** "Both an RN and left alliance majority now seem out of reach. Thales (Buy), Airbus (Buy) and Safran (Hold) which were under significant pressure two weeks ago could thus recover," said Jefferies in a note
** French industrials index .FRIN is up 2.7%
** Among single stocks, Dassault Aviation AM.PA, Thales TCFP.PA, Safran SAF.PA, Airbus AIR.PA, which also announced a deal to buy Spirit Aero European-focused activities, are up 2-3%
** Construction companies Vinci SGEF.PA and Eiffage FOUG.PA, Bouygues BOUY.PA rise around 4%
Reporting by Michal Aleksandrowicz
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