Macron win will boost European stocks

The mood in European equity markets is likely to be positive for the next few months, with earnings growth and upward earnings estimates both outpacing America’s.

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Macron: herald of an economic spring for Europe
(Image credit: Credit: REUTERS / Alamy Stock Photo)

The French presidential election "turned out to be a buy-the-first-round, sell-the-second-round affair", as London Capital Group's Jasper Lawler told the Financial Times. The euro slipped from a six-month high as Emmanuel Macron's decisive victory over the far-right's Marine Le Pen became clear. The win had been priced in. With the populist threat of referendums on the euro or EU membership in several countries contained for now, markets are expecting peace and quiet on the political front at least until 2018, when Italy's elections are due and hoping that Macron will be able to liberalise the French economy as he has promised.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.