French shares surge as far right party takes lead in first round of election Boston 25 News [Video]

Shares advanced on Monday in Europe, with the benchmark in Paris up 2.8% briefly after the far-right National Rally gained a strong lead in first-round legislative elections.

Other European markets opened higher, while most Asian markets also gained.

The euro rose, climbing to $1.0771 from $1.0744 as polling agencies suggested the National Rally might win a majority in the lower house of parliament. However the outcome remains uncertain and the voting system is complex.

The CAC 40 in Paris fell back and was trading 1.6% higher at 7,594.08, while Germany’s DAX climbed 0.5% to 18,320.36. In London, the FTSE 100 rose 0.5% to 8,203.40.

The gains for the euro were likely due to relief over the far right parties not gaining more votes than expected, economists at ING Economics said in a commentary.

“Still, first round results are not offering much certainty about the composition of the parliament, and the second round …