Hofer concedes defeat in Austria election

• The populist wave spreading across Europe saw a defeat in Austria as voters rejected Norbert Hofer, the leader of the far-right Freedom Party.
• According to a final count at the ballot box, the Green Party's Alexander Van der Bellen won 53.3% of the vote in the country's runoff presidential election compared to Hofer's 46.4%.
• The margin is a surprise as polls ahead of Sunday's vote had shown the two candidates neck-and-neck.
• ETFs: EWO