French vote prompts relief rally in European shares, the euro
The euro hit a five-month high amid expectations that the pro-European Macron will become the next French president
European shares surged and the euro hit a five-month high amid expectations that the pro-European, business-friendly centrist candidate Emmanuel Macron will become the next French president.
Macron and far-right nationalist Marine Le Pen emerged victorious from the first round of voting in France's presidential elections yesterday, defeatingcandidates of the established parties as they garnered 23.8 per cent and 21.5 per cent of the vote respectively.
The two will now go head-to-head in a run-off election on May 7 with Macron, a first-time candidate, expected to defeat Le Pen, who wants to take France out of the euro, by a wide margin of 62 per cent to 38 per cent, according to the latest opinion polls, asthe defeated establishment parties row in behind him.
