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Wednesday, March 29, 2023

Putin Congratulates Macron on French Election Victory

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Russian President Vladimir Putin sent his congratulations to French President Emmanuel Macron on his re-election, the Kremlin Press Office said on Monday.

“I sincerely wish you success in your state activities, as well as good health and well-being.”

Macron is the first French president in two decades to win a second term, and is set to begin efforts to unite a deeply divided nation after a battle that saw the far right come its closest yet to taking power.

Meanwhile, European stock index futures sank over 1 percent on Monday as nerves around rapid US interest rate hikes and tech earnings this week overshadowed cheer from French President Emmanuel Macron’s election victory.

By 0605 GMT, futures for the Euro STOXX 50 slumped 1.7 percent. France’s CAC 40 index futures dropped 1.5 percent and German DAX futures fell 1.7 percent.

The euro got a brief bump after Sunday’s election results showed pro-EU centrist Macron in the lead, reassuring markets about France’s commitment to an integrated Europe even if his economic platform now depends on parliamentary elections in June.

France’s blue-chip outperformed the wider STOXX 600 index over the past two weeks on hopes of Macron’s re-election, but his relatively small poll lead over Le Pen, who favours nationalising key industries and slashing taxes, had kept investors on edge earlier.

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