French stocks have suffered from the shock of President Emmanuel Macron calling an election last week which hit bank shares in particular.
Meanwhile, London shares are showing renewed signs of life with bankers saying clients are looking to get deals moving again, leading to floats and share price boosts.
The FTSE 100 is up 7% in the past year and today rose 7.35 points to 8154.21.
French stocks are now collectively worth about $3.13 trillion, losing out to the UK at $3.18 trillion. The CAC 40 Index has lost all its gains for 2024.
Investors say that stability - steady inflation and interest rates and the clear likelihood of a Labour victory in the July election at least gives them some confidence about what is coming next.
Bloomberg first reported the shift this morning.
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