European markets to surge higher as Macron wins French election

European markets are expected to open higher Monday after pro-European Union candidate Emmanuel Macron secured a comfortable victory to become the next president of France.

The FTSE 100 is seen 39 points higher at 7,325; the DAX is on track to open 114 points higher at 12,822, and the CAC 40 is expected to open up by around 62 points at 5,476.

Investors had predicted a decisive victory for Macron would be the most likely outcome, yet the absence of a Brexit-style political upset appeared to produce a collective sigh of relief on Monday.

The market-friendly candidate defeated far-right rival Marine Le Pen as he took around 66 percent of the votes versus approximately 34 percent for the National Front leader.

On the earnings front, Sysco, Mallinckrodt and Newell Brands are among some of the major companies expected to report before the bell on Monday.

Marriott, Hertz Global and Pandora Media are due to report after the market close.

The governing U.K. Conservative party is poised to publish its manifesto for the June 8 general election on Monday. The start of the trading week marks the two-year anniversary since the party last won the general election in 2015.

Meanwhile, the U.S. Senate subcommittee will hold a hearing on alleged Russian interference in last year’s presidential election on Monday. Elsewhere, the United Nations’ Human Rights Council will meet in Geneva on Monday to review the so-called war on drugs effort from Philippines President Rodrigo Duterte.
Source: CNBC