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European shares seen hitting fresh highs after French vote - spreadbetters
May 8, 2017 / 5:55 AM / 6 months ago

European shares seen hitting fresh highs after French vote - spreadbetters

MILAN, May 8 (Reuters) - European shares are set to open higher on Monday, surging to fresh highs after Emmanuel Macron was elected French president with a business-friendly vision of European integration.

According to financial spreadbetters, the Euro zone STOXX 50 index is seen up 0.8 percent, France’s CAC 40 up 0.9 percent and Germany‘S DAX up 0.8 percent, while Britain‘S FTSE is called up 0.4 percent.

Last week the CAC ended at a fresh 9-1/2 year high and the DAX at a new all-time high.

Macron defeated Marine Le Pen, a far-right nationalist who threatened to take France out of the European Union.

“Despite the uncertainty related to government formation and a potential implementation of reforms, the election result is a positive for Europe...” Credit Suisse’s global CIO Michael Strobaek said in a note. “Equity markets, too, are very likely to continue to attract investors, with financials expected to do particularly well.”

Reporting by Danilo Masoni

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