Off the wire
• Zambian leader accuses veteran diplomat of tarnishing country's image  • Xinhua Asia-Pacific News Summary at 1600 GMT, April 24  • 1st LD Writethru-China Focus: China's top legislature convenes bi-monthly session  • German mechanical engineering embraces for Industry 4.0: association  • More Americans predict continued rise in home prices: poll  • Zambia tax agency waives payment of interest, penalties on tax defaulters  • Afghan president meets visiting U.S. defense secretary  • Italian police officers patrol Great Wall under cooperation program  • Norway to get electric airplanes in 10 years: report  • Road traffic remains biggest noise polluter in Europe: EU environment agency  
You are here: 　 Home

U.S. stocks rebound after French election

Xinhua, April 24, 2017 Adjust font size:

U.S. stocks traded sharply higher in the morning session 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.

By midday, the Dow Jones Industrial Average rose 195.07 points, or 0.95 percent, to 20,742.83. The S&P 500 added 21.20 points, or 0.90 percent, to 2,369.89. The Nasdaq Composite Index was up 62.88 points, or 1.06 percent, to 5,973.40.

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 Asia, Tokyo stocks also jumped Monday as the market mood was buoyed after the first round of the French presidential election. The 225-issue Nikkei Stock Average gained 1.37 percent to 18,875.88 points. Endit