French election result gives markets a start-of-week lift

LONDON (AP) — European stock markets and the euro ratcheted higher Monday, particularly in France, after the first round of the country's presidential election saw centrist Emmanuel Macron emerge on top — stoking hopes that he will defeat far-right Marine Le Pen in the run-off in two weeks' time.

Following Britain's vote to leave the European Union and Donald Trump's surprise victory in the U.S. presidential election, the hope in the markets is that the rise of populism around the world — and the associated potential unpredictability in policymaking — may have peaked.

ANALYST TAKE: "In Macron, we see the strongest opponent pitted against Le Pen, in what is likely to be the final vote of confidence for the EU in what was always going to be a critical year for the future of Europe," said Joshua Mahony, market analyst at IG.

Though the second run of the French election will remain in the spotlight, there's likely to be investor interest also in upcoming tax proposals from the Trump administration.

The Chinese Insurance Regulatory Commission, in a notice carried by the state-run Xinhua News Agency, ordered insurers to improve risk controls amid a crackdown on misuse of capital.