Despite Macron stumble, markets seem sure of his victory
The front-runner bulwark against France’s withdraw from the euro zone is losing ground, but markets remain confident he will prevail
After a campaign slip up which saw French centrist presidential candidate Emanuel Macron upstaged in his hometown by right-wing opponent Marine Le Pen, Macron’s lead in the polls slipped by more than 10 points.
Despite the shift, which left Macron with 59% support versus Le Pen’s 41%, according to one poll, markets still don’t see a chance of an upset, reports the Financial Times. The euro has risen 2% since the first round of voting, and France’s CAC 40 index is close to a 9-year high.
Velentin Marinov of Credit Agricole reflects that confidence, saying that political risks will subside, but he adds that the euro may overshoot to the upside.