Futures soar after French vote

|By:, SA News Editor

Markets are breathing a sigh of relief following the election in France, which saw Emmanuel Macron and Marine Le Pen advance to a presidential runoff.

Polls, that were largely accurate in predicting the first round outcome, suggest Macron is likely to win the next vote scheduled for May 7.

The euro soared as high as $1.094, hitting a five-month high, while the CAC 40 rose 4% in opening trade. Other European markets are also green: London +2%; Frankfurt +3%, while U.S. stock index futures are all up 1.1%.

The risk-on sentiment has also pushed safe haven assets lower, including treasuries and gold down over 1.3% to $1273/ounce.

Previously: Europe skies after French election (Apr. 24 2017)

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