Issuance and sales of retail structured products in France decreased year-on-year on the back of the low volatility environment that characterised most of the year and resulted in the absence of rollover opportunities. However, the equity markets, marked by a lack of direction during the whole of 2016, saw a recovery by the end of the year, according to market sources. The most popular underlying in France, the Eurostoxx 50, was 7.3% up at the end of December, recording a 0.7% increase year-on-

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