[The valuation discount of the French stock market relative to the German stock market is the largest since 2009] On October 19th, as political turmoil and weekend riots prompted investors to withdraw from the French stock market, the valuation discount of the French CAC40 index relative to the German stock market expanded to the largest discount in the past 20 years. The French stock market benchmark underperformed elsewhere on Monday and now trades at a valuation discount of more than 13% to Germany's DAX index, its biggest discount since early 2009, when the impact of the global financial crisis hit stocks hard. The latest sell-off in French stocks followed weekend street violence, further eroding investor confidence. Prior to this, France's rising debt and uncertainty about the prospects for next year's presidential election had already worried investors.