German shares jump 3.37 percent on French election results

German stocks soared on Monday, with the benchmark DAX index up 406.41 points, or 3.37 percent, to close at 12,454.98 points.

Financial and banking service providers Deutsche Bank and Commerzbank gained the most among the blue chips, whose shares went up by 9.45 percent and 9.23 percent respectively.

Manufacturing and electronics company Siemens soared 5.45 percent.

Housing association Vonovia was the only loser in the day, whose shares lost 0.57 percent. Deutsche Boerse and E.ON gained the least by winning 0.59 percent and 0.91 percent respectively.

Deutsche Bank was the most-traded share with a turnover of 739.71 million euros (802.44 million U.S. dollars).

European equities surged on Monday after Emmanuel Macron's victory in the first round of the French presidential election.

On Sunday, centrist candidate and former minister of economy Emmanuel Macron and far-right candidate Marine Le Pen came out on top, 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.

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. Endit