A French election is driving down the value of French listed companies, analysts say

The UK’s main stock market retook its crown as Europe’s most valuable for the first time in nearly two years, data shows.

The total value of companies listed on the London Stock Exchange (LSE) hit $3.18 trillion on Monday, overtaking the $3.13tn total value of companies listed in Paris, according to Bloomberg data.

Both valuations have shifted since and remain close, but analysts describe it as a milestone.

They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance.