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European markets buoyed by Macron’s huge victory

Jun 19, 2017, 6:36 AM EDT
Paris Stock Exchange
(Source: Guilhem Vellut/flickr)

The European markets cheered as French President Emmanuel Macron’s centrist party cruised to the parliamentary majority after the final round of the election on Sunday.

The win triggered a new wave of optimism as traders expect Macron to pass reforms that could accelerate both the French and European economy, notes Financial Times.

French stock was a major beneficiary with a jump of 1 percent, writes The Guardian. A share of optimism has also been attributed to the beginning of formal Brexit negotiations between the U.K. and the E.U. today. Sterling also registered a slight gain on Monday.