Macron got 58.54% of the vote while Le Pen got 41.46%. The result supposes certain tranquility before the markets. However, the citizen support for the far-right candidate who achieved a record result stands out.
Macron’s victory was overshadowed by global stock markets’ fear of China’s restrictive policies. The CAC-40 index falls 2.2% to 6,431.29 points. In fixed income, the yield on the French 10-year bond falls sharply, more than 4%, which means a rise in prices.
The increase in infections in China due to coronavirus outbreaks has caused greater confinements, which could put the economic recovery at greater risk, just when the market is aware of the problem that a rise in interest rates will cause.
Asian stocks had their worst session in a month and a half on Monday, falling as much as 6% as fears grew that Beijing was about to join Shanghai in lockdowns. The Hang Seng Index slumped 3.85%, the Shanghai Composite Index lost 5.13% and China’s No. 2 stock exchange Shenzhen fell 6.48%.
Oil was also not immune from market trends and the North Sea Brent barrel with delivery in June fell 3.55% to 102.86 dollars and the West Texas Intermediate (WTI) US barrel for the same month fell 3 .57% to $98.27.
Source: Ambito
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