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Macron handily wins French presidential election—seen as an upbeat sign for the stock market

Centrist candidate Emmanuel Macron has won the French presidential election with about 66.1% of the votes, against 33.9% for rival Marine Le Pen, according to official tallies.

The victory on Sunday for the 39-year-old Macron—a staunch supporter of the European Union—is likely to placate anxious global market investors, who have fretted for weeks that far-right candidate Le Pen would win and make good on promises to yank France out of the EU, potentially unsettling the eurozone and world markets.

Le Pen conceded defeated shortly after the polling estimates were released:

Mon allocution de ce soir, à l’issue du second tour de l’élection présidentielle :#Présidentielle2017pic.twitter.com/8IzVXOTzSe

— Marine Le Pen (@MLP_officiel) May 7, 2017

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