dglobalnews.com Macron's French bistro party lands him in the soup
Published: Tue, April 25, 2017
Markets | By Armando Jensen

Macron's French bistro party lands him in the soup

Silver prices drifted lower on Monday, as investors raised bets that Emmanuel Macron would emerge victorious in the second round of the French elections on May 7.

"Only about one-third of those who voted for Fillon will be tempted to vote for Marine Le Pen in the second round".

Following the announcement of the results, a large number of anti-fascists demonstrators went to the streets at the historic Place de la Bastille protesting the results. His campaign are calling him the "king-maker", which may be pushing the truth somewhat.

Right up until the first-round vote, pollsters thought the race was too close to call between Macron, Le Pen, Republican Francois Fillon, who took 19.9% of the vote, and far-left Jean-Luc Melanchon, who took 19.6%.

Image: A map showing how France voted with Macron shaded pink, Le Pen (purple), Fillon (blue) and Melenchon (orange).

Ms Le Pen and her father are now estranged, and have not spoken for two years.

Though Le Pen came second with 21.5 percent of the vote on Sunday and will contest the runoff on May 7, the favorite to be the country's next president is Macron, who came top with around 24 percent.

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Socialist candidate Mr Hamon never managed to gather any real momentum in his campaign and ended up in the fifth spot - a position which emphasised the disarray of the French Left after five years of unpopular rule by Mr Hollande.

"And given previous year - Brexit, Trump and all sorts of surprises - don't write this off", he said about Le Pen's chances.

Speaking after last week's terror attack in France, US President Donald Trump said she was "strongest on borders, and she's the strongest on what's been going on in France". Turnout was 78 percent, down slightly from 79 percent in the first round of presidential voting in 2012. And, just as in post-Brexit Britain, her hostility to the European Union could jeopardise research funding.

Sylvain Crepon, an FN specialist at Tours university, says Le Pen can not bridge the gap with Macron this time, but pressing those themes is vital for the party's future and its role in the reorganising of a political landscape shaken by a campaign which has seen both the major left-wing and right-wing parties tumble. More than anything else, a vote for Macron seems like a vote for "none of the above".

The iShares MSCI France ETF (EWQ), one way investors have been betting on the French election, was up more than 4% to $27.50 in pre-market trading. He said that they express a choice "outside the system".

German chancellor Angela Merkel also wished Mr Macron "all the best for the next two weeks".

The establishment centre-left and centre-right parties -the traditional centres of power in French politics - have already circled the wagons around Mr Macron. Twenty-nine people were detained at the Bastille, where protesters waved red flags and sang "No Marine and No Macron!"

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