The French government plans to raise related taxes, with attention on individual stocks in the French road and airport sectors.

The French government plans to raise the transport infrastructure tax in the 2027 budget, and shares of French airport and highway operators may see volatile trading. Companies such as ADP, Eiffage, and Vinci could become market focal points. Morgan Stanley analysts said that if the tax is raised, Vinci's 2027 net profit could be hit by 9%, with per-share valuation reduced by 4.5 to 5 euros. The yield spread between French government bonds and German government bonds is about 113 basis points.