European markets seen higher after Macron’s victory

24.04.2017 / 10:14

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European markets are set to start the week on a positive footing after the centrist Emmanuel Macron won the first round of the French election.

The FTSE 100 is seen 35 points higher at 7,149; the German DAX is set to open higher by 174 points at 12,222 and the CAC 40 in France is set to begin 102 points higher at 5,161.

The euro reached a five-month high during Asian trading hours as investors grow confident that Macron will defeat his far-right opponent, Marine Le Pen, in the runoff vote on May 7. This significantly decreases the chances of another country leaving the European Union, given Macron's pro-European stance.

In Brussels, European officials will meet to discuss their stance on Brexit ahead of a summit dedicated to the topic this Saturday.

Politics aside, investors will be looking at corporate earnings from Telekom Austria, Syngenta and Tele 2. The maker of medical devices Philips reported early Monday a better-than-expected core earnings of 442 million euros ($480 million) for the first quarter

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European markets seen higher after Macron’s victory

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