French shares head for 2-year peak after Macron win

French shares head for 2-year peak after Macron win

On Monday, French shares soared after centrist Emmanuel Macron managed to dominate the first round of voting in the French presidential election, thus easing concerns that two anti-European Union nominees would be in the final runoff.

The CAC 40 index PX1 ascended 3.7%, hitting 5,247.45, thus setting it on track for its biggest one-day percentage revenue since August 2015. If the French benchmark concludes Monday at that level, it’s going to show the strongest close since April 2015, as FactSet states.

Other European markets welcomed the French election outcome too, with the Stoxx Europe 600 SXXP leaping 1.8% and reaching 384.80.

Britain’s FTSE 100 index UKX managed to grow 1.4%, being worth 7,214.04. At the same time Germany’s DAX 30 index DAX gained 2.4%, showing 12,336.83.

The positive mood arose after on Sunday centrist Macron as well as far-right candidate Marine Le Pen came in respectively first and second in France’s presidential election, thus qualifying for the second round on May 7.

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