Euronext: French savers reconcile with the exchange in 2023 after avoiding it last year

(BFM Bourse) – In 2023, French savers are again interested in the stock market, especially those under 35, reveals a study by the Financial Markets Authority published this Friday.

French savers, and especially those under 35, are taking a renewed interest in the stock market in 2023 after somewhat shying away from investing in shares last year, according to a study by AMF, the stock market watchdog.

Of the 2,386 people who responded to the Financial Markets Authority’s (AMF) questionnaire, 32% said they were interested in investing in shares, the highest percentage since this savings and investment barometer was created.

There is great interest among people under 35 years of age

In 2022, only 25% of respondents expressed an interest in investing in shares. Interest in the stock market is even more striking among people under 35, of whom 43% are interested in stocks this year, 13 percentage points more than in 2022.

“After the sharp decline seen in 2022, more savers will consider investing in shares in 2023”, a “renewed interest” driven mainly by “people under 35 in 2023”, according to the ‘AMF’ barometer. However, these savers’ knowledge of financial markets has not progressed as quickly as their interest.

Do new investors in the stock market tend to overestimate themselves?

Only 11% of respondents correctly answered the three questions regarding the basic principles of saving. In 2022 it was 12%. And the rule that the more the investment yields, the riskier it is, is known to only 59% of the French surveyed, which is a share less than in 2022 (69%).

However, four out of ten people consider themselves “knowledgeable” about “savings products and financial investments”. Among the respondents, 15% were victims of fraud. Here, too, this phenomenon affects people under 35 more strongly.

These numbers worry AMF president Marie-Anne Barbat-Layani. Quoted in a press release from the stock market watchdog, it “particularly warns young people against information and offers circulating on social networks, sometimes passed on by influencers.”

(With AFP)

SS – ©2023 BFM Bourse

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