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Evening Update Monday 8th May 2017

President - Prince Albert of Monaco has congratulated Emmanuel Macron on his presidential win, saying Monaco will continue to work with France on jobs, terrorism and the continuation of European ideals.

Meanwhile abstention rates in yesterday’s presidential election were highest in the Bouche du Rhone, where in Marseilles 30% of people chose not to vote at all.

In the Var, it was a neck-in-neck race, with Emmanuel Macron eventually getting a narrow victory with just over 50% of the votes, while in the Alpes Maritimes he had a clear victory with more than 60%.

However, pollsters say Macron has not won the election on a wave of popularity, as surveys show 43% of people voted for him, just to block Le Pen.

Despite losing, it was still a record day for Marine le Pen and the National Front who are happy with their vastly increased popularity. This year, Marine Le Pen received double the number of votes her father did in the 2002 presidential election.

BUSINESS

The euro has slipped back against the US dollar as markets react to Emmanuel Macron's victory in the presidential election. Despite the slight fall, the Euro is still up by about 2.5% since the first round of voting two weeks ago. Investors have widely expected Mr Macron to win but are not confident he can implement changes to tax and the labour market as he currently has no elected representatives to push through his plans. This means the parliamentary elections next month will have significant implications for the success of Macron’s presidency.

The owner of Australian newspapers including the Sydney Morning Herald is in takeover talks with a North American private equity consortium. TPG Capital and the Ontario Teachers' Pension Plan want to buy parts of Fairfax Media in a deal that could be worth as much as €1.6bn.

SPORT

Tennis - Very interesting game this evening at the Madrid Open featuring Eugenie Bouchard playing Maria Sharapova, the woman Bouchard very publicly slammed last week as a cheater. Sharapova is just returning to tennis after a 15-month doping ban.

Football - In yesterday’s regional derby, third-placed OGC Nice suffered their first Ligue 1 defeat for two months, losing 2-1 to Marseille. Patrice Evra was the unlikely match-winner for Marseilles, netting with a header in the 66th minute. Meanwhile AS Monaco remain comfortably on top of the league, with a three point lead, after their 3-0 over Nancy.

Rugby - Warren Gatland says today's first meeting of the British and Irish Lions squad was very important, after Saracens boss Mark McCall said it was unbelievable to host the meeting just five days before Sarasens play Clermont in the European Champions Cup final. Saracens, who are the reigning champions, have six players in the Lions squad, so team training was cancelled today to facilitate the Lions meeting.