Analyst who correctly predicted Trump's victory thinks Le Pen will win French election
REUTERS/Benoit Tessier
An analyst who correctly predicted Trump's victory says Marine Le Pen will win the French election.
Charles Gave, founder of the Hong Kong-based asset-allocation consultancy GaveKal research, told Bloomberg on Friday Le Pen's support is a "slow-moving reaction against the men of Davos," similar to Brexit and Trump.
Le Pen, of the far-right National Front party, is a self-styled populist leader in the same vein as Trump - though with a much more rigid ideology.
Current polls put Le Pen closely behind center-right candidate Emmanuel Macron. Francois Fillon, a conservative candidate, sits just behind Le Pen, though he's been hit with a corruption scandal.
The first round of voting takes place on Sunday, and if there's no outright majority, the top two candidates will face each other in a runoff on May 7.
Gave predicts that if Jean-Luc Mélenchon, a far-left candidate, made it into the second round of voting, Fillon's supporters and the vast pool of undecided voters would rally behind Le Pen.
Le Pen has campaigned on a promise to curtail immigration and withdraw from the Schengen Borders Agreement, putting France's involvement in the European Union in jeopardy.
Gave sees markets underpricing a Le Pen victory, and is telling clients to go long on the U.K. pound. A Le Pen victory would tank the euro market as France pulling out of the European Union would be all but inevitable, reports Bloomberg.
See the latest EUR-USD movements here.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh