EUXTF - Protestors briefly enter Euronext building to vent anger on retirement age law

2023-04-20 10:53:14 ET

A group briefly stormed the building of European stock exchange Euronext ( OTCPK:EUXTF ) ( OTCPK:ERNXY ) on Thursday, as they brought their protest over the increase in France's retiremebnt age to the center of Paris's business district, the Associated Press, as well as other news organizations reported.

The plan to raise the retirement age to 64 from 62 sparked a series of protests across the country in recent months. The law was enacted last week.

The protestors' focusing on Euronext ( OTCPK:EUXTF ) shows that's "where the money is," Fabien Villedieu, head of Sud Rail union, told the AP. "France has never been so rich, never have the multinationals in France been so rich. The problem is the distribution of wealth," he said.

Even with the protest, Euronext ADRs ( OTCPK:ERNXY ) gained 0.4% in Thursday morning trading. The Euronext Top 100 Index is little changed ( -0.04% ) at 1,382.69 in Paris trading.

French President Emmanuel Macron argues the change in retirement age is needed to keep the country's pension system funded because of its aging population.

Earlier this month, TotalEnergies ( TTE ) said its Gonfreville refinery in northern France started returning to operation , marking the last of its four domestic refineries to restart after a month-long strike in protest against the French government's plan to raise the retirement age.

SA contributor Marc Chandler discussed the change in France's retirement age and its impact on the euro as well as other forex dynamics.

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