Global Financial News: European Stocks Gain After Macron's Resounding Win

Centrist Macron Takes 65.5% of the vote in the presidential runoff

Author:: TheStreet Staff
Publish date:: May 8, 2017 4:04 AM EDT

Here is your round-up of the financial news from around the world:

1. European stocks are open higher Monday following a resounding win for centrist Emmanuel Macron in Sunday's presidential election runoff in France that has lifted markets in Asia and muted near-term political risk

2. Centrist candidate Emmanuel Macron took 66% of the vote in the presidential runoff - The biggest margin of victory in 50 years

3. The euro pulled back from six-month highs of 1.1024 against the U.S. dollar following Macron's win as investors took profits from trimmed pre-election bets

4. Global oil markets rebounded in early Monday trading after Saudi Arabia's Oil Minister, Khalif Al-Falih, told an industry event in Kuala Lumpur that he was "confident the (OPEC agreement on production cuts) will be extended into the second half of the year

5. AkzoNobel (AKZOY) has formally rejected a third takeover approach from PPG Industries (PPG) - Get Report Monday, saying the $26 billion offer undervalues the company and demonstrates a "lack of cultural understanding"

This article was written by a staff member of TheStreet.