Paris stocks rise, Sao Paulo plunges after Lula's Brazil election win

Paris stocks rebounded Monday as French bond yields eased after Moody's maintained France's credit rating, while Sao Paulo's market plunged following Lula's presidential election victory. The CAC 40 rose 0.88% to 7,851.86 points, with French banks gaining over 2%. Moody's kept France's "Aa3" rating with a negative outlook, citing expectations of easing financing costs and budget deficit reduction. Oil prices also fell below $115 per barrel, supporting markets. Brazil's Ibovespa index dropped 16% as markets reacted to Lula's fourth-term victory over market-favored candidate Flavio Bolsonaro, who contested the result. Analysts cited concerns over high public debt exceeding 82% of GDP and limited fiscal room.