French stock jumps 4%, gold sinks 1% after election results

Dubai: French stocks jumped more than 4 per cent on Monday led by banks after centrist Emmanuel Macron pulled in the highest number of votes among candidates in the first round of the French presidential election on Sunday.

The CAC index was up 3.76 per cent at 5,249.37, after hitting a high of 5,268.44. Rest of the European stocks were up 1-2 per cent.

Safe haven bids in gold eroded. Spot gold was down more than 1 per cent at $1,272.38 an ounce.