LONDON (ShareCast) - (ShareCast News) - France's presidential election took a further twist on Friday, after left wing candidates Benoit Hamon and Jean-Luc Melenchon said they were discussing a merger in order to combat the National Front's Marine Le Pen.
French bonds fell as the news emerged, with the gap between German and French 10-year yields reaching its highest point in a week, while the country's stock exchange also lost ground.

The CAC 40 dropped 0.9% on Friday, including significant losses for major banks Credit Agricole and Societe Generale. The euro also fell against the dollar, by around 0.2% to $1.0650.

Le Pen has emerged as one of the frontrunners for the election later this year, riding a wave of right-wing populism that carried Donald Trump and the UK vote to leave the European Union to respective victories in 2016.

Hamon, who currently sits in fourth place in most polls, was speaking with the France Info radio station when he made the comments about the possible joining of forces.

"What we need to discuss is the conditions under which we could come together and who in the end could -- between Yannick Jadot, Jean-Luc Melenchon and myself -- be best suited to embody the Left at the second round of the French presidential race with a program that could be shared," Hamon said.

France, Germany and the Netherlands all face important elections in 2017, with far-right groups gaining in confidence following the events of the previous year.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE