---
title: "France: too cheap to ignore?"
description: "French equities are deeply out of favour—and the valuation gap has reached historic proportions. After more than three years of underperformance, the CAC 40 is trading at its lowest valuation relative to the Eurozone on record, according to JPMorgan.\n\nInvestors have been retreating from French assets, leaving sentiment firmly in the doldrums. \nFor contrarians, the appeal is clear. The harder question is whether today’s discount offers a genuine opportunity—or simply reflects the risks ahead.\n\nSource: JPM, TME"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [France: too cheap to ignore?](https://blog.syzgroup.com/syz-the-moment/france-too-cheap-to-ignore)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Oct 28, 2026, 4:07:17 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/france-too-cheap-to-ignore)

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