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Leader of the political movement 'En Marche!' Emmanuel Macron.

Markets warm to fading risk of Europe divorce

With Mr Macron appearing secure in his lead and likely to form a successful coalition once in power, the political event risk looming over Europe is fading and the euro hit a five-month high.

Spotless Group chief executive Martin Sheppard. The company has gone to the Takeovers Panel.

Spotless rejects Downer as rival bids disappear

The board of Spotless Group has recommended investors knock back the shock $1.2 billion bid from services company Downer EDI labelling it as "opportunistic, hostile, highly conditional' and unlikely to proceed.

Campaign buttons for Emmanuel Macron, French presidential candidate who is now expected to be the country's next leader.

Markets Live: Investors cheer France

ASX starts the week on the front foot after France's first round of presidential polling produces a market-friendly result, which helped push the euro to a five-month high.

The currency was 2 per cent higher at $US1.0929 as trading this week began shortly after 8pm in London (5am AEST).

Euro surges near 2 per cent

The euro surged higher after early results showed Emmanuel Macron and Marine Le Pen will battle for the French presidency.

Investors have overreacted to the slow movements emanating from the US administration.

Trump's tax plan rekindles reflation trade

Bets inflation will pick up have slowed, showing investors are skeptical the US administration can boost economic growth. But markets are looking to tax reform to keep the trade alive.

Brad Banducci

Brad Banducci joins the Salvos Army

Woolworth's chief grocer Brad Banducci will follow in big and glamorous footsteps when he fronts as the speaker to launch the Salvation Army Red Shield Appeal

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