How do riots in France affect the economy?

On July 2, French Finance Minister Bruno Le Maire said that on the night of July 1 alone, about 10 shopping centers, more than 200 supermarkets, 250 tobacco stores and 250 bank transaction points were attacked or looted.

Riots have broken out in several French cities over the past five days. A car is pictured burning during riots in Nanterre, a suburb of Paris, France on June 27. (Source: AFP)

Speaking to France Info, Jean-Luc Chauvin, head of the Aix Marseille Provence Chamber of Commerce, said that all types of businesses have become targets, especially those with high-value goods.

Initial estimates from insurance companies put the damage at more than 100 million euros ($109 million), a figure that Jean-Luc Chauvin said was certain to rise.

LVMH's fashion brand Celine has canceled its menswear show scheduled for July 1 in Paris.

Meanwhile, authorities have also had to restrict public transport in many cities and cancel many cultural events such as concerts.

Riots have broken out in many French cities over the past five days, after police shot dead 17-year-old Nahel M. in the Nanterre neighborhood, a suburb of Paris, on June 27.

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