Almost all other main contenders urge supporters to back Macron

The French stock market and the euro surged after voters selected centrist newcomer Emanuel Macron and the Front National’s Marine Le Pen to fight for the French presidency when the second round of voting is held next month.

It was the first time that neither the Socialist nor Republican parties had made it to the second round since 1958. While that represents a major change in the political landscape, European leaders and markets were reassured by the performance of Macron, who is almost certain to defeat Le Pen on May 7.

Macron polled 23.8 percent to Le Pen’s 21.5 percent, Francois Fillon, an early favorite, had 19.9 percent, followed by the left-winger Jean-Luc Melenchon with 19.6 percent and the Socialist Party’s Benoit Haman with 6.4 percent. There were also six other candidates.

As the results emerged, all the main contenders, except Melenchon, urged their supporters to back Macron. Opinion polls gave Macron at least a 24-point lead over Le Pen.

Macron could be the youngest president in the 59-year history of the French Fifth Republic. The 39-year old

Most likely, the French election can mark a turning point for France and Europe.”

Holger Schmieding, Berenberg Bank analyst

formed the En Marche party one year ago and it has no deputies in French parliament. If Macron becomes president, his next battle will be to get enough deputies elected to parliament in June to help him govern, although his party is well-placed to lead a coalition.