France's borrowing costs hit 24-year high as civil unrest and budget fears rattle markets and raise debt alarm across Europe
Rioters torched the historic Limoges town hall as Interior Minister Laurent Nuñez admitted authorities had failed to gauge the scale of the unrest and that some cities slipped out of police control.Looting in Nice, France. Some French synagogues cancelled Sabbath prayers and told Jews to hide kippahs as curfews were extended after weekend riots left more than 2,500 people held.Hodei Ciarra Docampo, 34, was arrested after elite RAID officers raided his home in Val d'Issoire, 30 miles north of Limoges, at dawn.Student demonstrators and smoke fill a Paris street as President Emmanuel Macron vows no repeat of the riots, with curfews remaining in force across French cities.
French ten-year yields climbed to 5.02pc as riots and looting deepen a budget impasse in Paris. Supermarket giant Carrefour fell by as much as 15pc after warning that the unrest could strip £170m from profits. Finance minister Roland Lescure says he is prepared to invoke Article 49.3 to push legislation through without a parliamentary vote. Moody's is due to rule on France's credit rating on Friday, and a downgrade is widely anticipated.
Christian Sewing: 'I wouldn't call it a debt crisis at this point in time.'
France's debt pile stands at around 120% of GDP, double the EU's 60% limit.
The spread between French and German yields has not been this wide since 2011.
