European Stocks Lift, France’s Yellow Vest Protests Calm Down
Arslan Butt • 1 min read
A day before, European shares fell dramatically over the violent protests against fuel tax rises, living costs, and other issues. But the situation has calmed after the French president Emmanuel Macron vowed to raise the minimum wage and cut taxes in an attempt to stop more severe protests that have shaken the Eurozone’s second-biggest economy.
Here’s what Macron proposed:
- The minimum wage would rise by €100 per month from 2019.
- A proposed tax hike for low-income pensioners would be canceled.
- They wouldn’t tax the overtime pay.
- Employers would be encouraged to pay a tax-free end of year bonus to employees.
CAC (Fra40) recovered from Monday’s losses to trade at 4,792. It has the potential to go after 4,864.
DAX (Ger30) opened higher with a gap to trade at 10,725.68 adding +0.98%.