French stocks, euro surge after first round of presidential vote
“The challenge is to break completely with the system which has been unable to find solutions to the problems of our country for more than 30 years,” Macron said on Sunday.
Quite clear choice
The choice for French voters is quite clear. Le Pen seeks to leave international alliances, such as the European Union and NATO, and looks for domestic solutions to terrorism and unemployment, such as restricting migration and protecting French industry from competition.
Macron is an internationalist who sees strength in alliances and wants French borders kept open to trade and migration.
But most voters appeared to have taken the threat in their stride. The euro was up on Monday to hit a 5-month high at $1.086, as fears of France pulling out of the single currency and the EU receded. The CAC 40 index of France’s leading companies rose by 4 percent on Monday morning.
“Most likely, the French election can mark a turning point for France and Europe,” said analyst Holger Schmieding from Berenberg Bank.
Le Pen’s result is a qualified victory for the Front National. She did much better than in the 2012 presidential elections and far better than her father when he came second in 2002.
If the presidency is beyond her, Le Pen and her party will aim to increase their representation in parliament. The Front National has only two deputies out of 577 in parliament.
Agence France-Presse contributed to this story.