French election relief sends Euro soaring

Record ID: 708305

  • Title: French election relief sends Euro soaring
  • Date: 24th April 2017
  • Summary: (SOUNDBITE) (French) MARKET ANALYST AT MONTSEGUR FINANCE, FRANCOIS CHAULET, SAYING: "The markets have experienced a few days of stress with four candidates going up in the polls, who were practically all at the same level if you take into account the margins of error. It's true that the ballot boxes have spoken, and it is somewhat reassuring because we have in first place a candidate, Emmanuel Macron, who is openly pro-Europe, who is openly pro-business, because in his campaign he had announced several measures, and it is sure that these measures were gladly accepted by the markets today, it lifted an uncertainty that had been quite significant in a country where two parties of the four candidates had clearly anti-European opinions." MONTSEGUR FINANCE LOGO (SOUNDBITE) (French) MARKET ANALYST AT MONTSEGUR FINANCE, FRANCOIS CHAULET, SAYING: "Emmanuel Macron is a person who projects a youthful, dynamic and positive image of France, he is someone who wants more from Europe, he wants to liberate more strength in business, and he wants to reform some of the particularities in France, such as the multiplication in the pension structure, such as the reforms in the right to work and unemployment benefits, which are quite significant parts of his programme. So it is reassuring, we now have a (Canadian Prime Minister Justin) Trudeau in France after the one in Canada."
  • Embargoed: 8th May 2017 09:27
  • Keywords: France election markets analyst Macron Le Pen
  • Location: PARIS, FRANCE
  • City: PARIS, FRANCE
  • Country: France
  • Topics: Government/Politics,Elections/Voting
  • Reuters ID: LVA0036DRBM87
  • Aspect Ratio: 16:9
  • Story Text: Centrist Emmanuel Macron's win in the first round of the French presidential race sent the Euro soaring on Monday (April 24), as investors cheered the results with polls now putting him comfortably ahead of far-right leader Marine Le Pen in the May 7 run-off.
    Political expert Bruno Cautres said Macron's victory would lead him all the way to the Elysee Palace.
    "This time she (Le Pen) did a very good election, she got more than seven million votes, which is much more than before, she progressed compared to 2012, she got one more million, one more million voters, but she cannot win that election, it is extremely, extremely likely that Macron is going to be the next French president," he said.
    As investors breathed a collective sigh of relief at what the market regarded as the best of several possible outcomes, the euro soared 2 per cent to 1.09395 U.S. dollars when markets opened in Asia before slipping back to around 1.0886 dollars.
    It was the euro's highest level since Nov. 10, the day after the results of the U.S. presidential election.
    Market analyst Francois Chaulet said Macron, 39, projected a "youthful, dynamic and positive image of France" and compared him to Canada's Prime Minister Justin Trudeau.
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