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Howard Gold’s No-Nonsense Investing: The stock market’s jump on the French election is more than a relief rally

The closely fought first round of the French presidential election has produced one of the best results investors could have hoped for—a run-off between Emmanuel Macron and Marine Le Pen of the National Front, which will take place on May 7.

Not that any round two involving Le Pen is desirable—to investors or anyone else. Like other European populist movements, the National Front is anti-immigrant and opposed to the European Union, two policies that are anathema to investors.

And though she may have photoshopped away her party’s long history of Holocaust denial and even purged her own father, Jean Marie Le Pen, the National Front’s founder, party leaders still have ties to pro-Nazi extremists.

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