European, US and Australian stock markets have surged as French presidential candidate Emmanuel Macron won the first round of voting on Sunday.
The centrist’s increasing likelihood to win against the far right anti-EU candidate Marine Le Pen provided relief to investors concerned with extremism in Europe.
All of Europe’s main markets gained at least 1.7 per cent following the voting. France’s Cac finished up 4.14 per cent, while Germany’s Dax was up 3.37 per cent, Spain’s Ibex rose 3.76 per cent and the FTSE up 2.11 per cent.
US markets also climbed. Nasdaq jumped 1.2 per cent while S&P 500 and Dow Jones gained 1.1 per cent.
Australia’s ASX 200 and Hong Kong’s Hang Seng rose by 0.2 per cent, while Japan’s Nikkei gained 1.4 per cent.
The euro is up 1.1 per cent against the US dollar and 1.3 per cent against the pound.