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Macron defeats Le Pen in French presidential election

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World leaders on Monday largely hailed the thumping victory of Emmanuel Macron in France's presidential election, with the European Union nations breathing a sigh of relief and describing it a triumph for a strong and united Europe. All 577 seats in France's National Assembly will be up for grabs.

The trade bolstered by Rafale deal is likely to be strengthened by an expected meet between Prime Minister Narendra Modi and French President-Elect Emmanuel Macron in July this year ahead of G-20 summit in Hamburg.

"We did not want to rush things in a few dozen constituencies that are particularly sensitive, around one hundred", Delevoye told Reuters.

Marine Le Pen, his far-right opponent in the presidential run-off, quickly conceded defeat to the 39-year-old Macron after voters rejected her "French-first" nationalism by a large margin.

"But the firm support for Marine Le Pen, and other anti-EU parties, in Europe show that not everyone is happy with the European Union".

The far-left France Insoumise (France Unbowed) party of Jean-Luc Melenchon would score 13-15 per cent and the Socialist Party 8-9 per cent if the two-round parliamentary elections were held now, the surveys suggested.

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Chancellor Angela Merkel of Germany congratulated Mr Macron on his "spectacular" victory Monday.

However, Laurence Boone of AXA Investment Managers, who like Macron was an economic advisor to outgoing president Francois Hollande, believes Macron has a good chance of building a majority.

The belief the Front National will make a strong comeback comes as France now prepares for legislative elections, or French parliamentary elections, in June. He said French voters are expecting something new. Macron received 66 percent of the vote compared to Marine Le Pen's 34 percent. Macron has got himself elected on a very specific programme which he will now try and implement and hope that - by showing that he's a serious politician who does what he says and follows the commitments he's given - that he will bring a bit more confidence back to France, and that politics and politicians can actually tackle problems that matter to people.

However, a senior Republican, Christian Estrosi, who had backed Macron and been rumoured to rally behind him, said on Monday he had turned down a ministerial post in order to focus on his home city of Nice.

"I warmly congratulate Emmanuel Macron on his success and I look forward to working with him on a wide range of shared priorities", she said. Macron also resigned as its president, as he takes on his new role as president of the republic.

Le Pen, the National Front candidate, had said during the campaign that she would withdraw France from the European Union. U.S. President Donald Trump called to congratulate Macron, while on the Kremlin website, Russian President Vladimir Putin urged Macron to "overcome mutual mistrust and unite to ensure worldwide stability and security". Other indexes across Europe also dipped, while the euro, which briefly hit a six-month high above $1.10 overnight, was down 0.7 percent at $1.0924.

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