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U.S. stocks open sharply higher after French election

Xinhua, April 24, 2017 Adjust font size:

U.S. stocks opened sharply higher Monday as pro-market and Europe stance Emmanuel Macron's win in the first round of the French presidential election offered a relief to anxious investors.

Centrist candidate and former minister of economy Emmanuel Macron and far-right candidate Marine Le Pen on Sunday came out on top in the first round of the French presidential election, according to projections by polling agencies and official partial results.

An updated estimation by research firm Elabe for local broadcaster BFMTV indicates that Macron leads with 24 percent of votes, and Le Pen 21.8 percent.

A total of 11 candidates participated in this year's race towards French presidency, and the two leading candidates are set to face off in the runoff on May 7.

A poll late Sunday from Ipsos/Sopra Steria showed that Macron would likely win that runoff by 62 percent to 38 percent, according to the Market Watch.

European equities surged on Monday after Macron's victory, with French benchmark index CAC 40 soaring over 4 percent in the early trading.

Shortly after the opening bell, the Dow Jones Industrial Average rose 195.31 points, or 0.95 percent, to 20,743.07. The S&P 500 added 23.12 points, or 0.98 percent, to 2,371.81. The Nasdaq Composite Index increased 63.00 points, or 1.07 percent, to 5,973.52. Endi