Dalai Lama greets French President-elect Macron

Emmanuel Macron waves from his car as he leaves his home to vote

The party is far from over at National Front HQ in Paris, despite Marine Le Pen's mauling in French presidential election.

European shares look set to advance, with financial spread betters expecting a 0.9 percent gain in France´s CAC, up 0.8 percent in Germany´s DAX and 0.4 percent higher in Britain´s FTSE.

Valls's move could be a boost for Macron, who needs to secure a majority in the elections to have a realistic chance of implementing his ambitious reform plans.

If Macron's party performs poorly, he could also be forced to form a coalition, a common occurrence in many European countries but something very unusual in France.

If he does, he would be able to pick the candidate of his choice to lead the government as prime minister.

On Monday, though, Hollande gripped Macron's arm before the two men walked side by side and then announced the transfer of power would take place Sunday.

French President-elect Emmanuel Macron began his transition to power Monday, a day after he handily defeated Marine Le Pen, the candidate for the ultraconservative National Front party, in a runoff election.

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The party's Vice President, Florian Philippot, who is gay, said the party must now undergo major change, with a new name being inevitable.

After her decisive loss, the National Front also geared up for a name change - if not a makeover of its ideas.

Reuters reported that more than 11 percent of voters chose neither Macron nor Le Pen. "The National Front is a tool that will evolve to be more efficient, bring more people together considering the number of voters we reached last night". "We're not giving any instructions", she told French media.

In a letter to the French President-elect, he, recalling their last meeting in 2016, said: "It was an honour to meet with you in Paris last September".

In Britain, Prime Minister Theresa May said Mr Macron's election makes it even more important for British voters to back her Conservatives and strengthen Britain's hand in European Union exit talks. In total, 28 per cent of Catholics voted for Fillon, compared to 22 per cent each for Macron and Le Pen.

The euro climbed to $1.1022, its highest level in six months and its first break above $1.10 since the USA presidential election.

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