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Morning Bid: Euro strength and horse-trading in France
European markets are poised for a strong start to the second half of the year after the first round of voting in France put the far-right National Rally (RN) party ahead, but with a smaller share than some polls had projected, lifting the euro to a two-week high. Exit polls, which were in line with the opinion surveys, showed Marine Le Pen’s RN party emerging ahead in the first round, winning around 34% of the vote, comfortably ahead of leftist and centrist rivals. The chances of eurosceptic, anti-immigrant RN winning power next week though remain uncertain, and will depend on the political dealmaking by its rivals over the coming days, with horse-trading already under way.
Reuters•
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