French stocks soar 4.14 pct on election results

French shares soared on Monday, with the benchmark Paris CAC 40 up 4.14 percent, or 209.65 points, to close at 5,268.85 points.

Only one of the 40 selected large companies lost in the day.

French banks led the charge. Credit Agricole jumped 10.86 percent, the top gainer of the blue chips. Societe General advanced 9.86 percent. BNP Paribas was up 7.52 percent.

Building material manufacturer LafargeHolcim was the only blue chip loser, down 1.66 percent.

On Sunday, centrist candidate and former minister of economy Emmanuel Macron and far-right candidate Marine Le Pen 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. Endit