France's Macron to reshuffle government after parliament win

Asia stocks shake off Wall St. blues, sterling steady before Brexit talks

Asia stocks shake off Wall St. blues, sterling steady before Brexit talks

A coalition formed of Macron's Republic on the Move party and the older centrist group Modem took 350 out of the French National Assembly's 577 seats-lower than the 400 some analysts had predicted but still a remarkable showing given Macron's movement was founded just a year ago.

Le Pen topped the poll against 12 rivals in the first round of voting, and went on to topple Anne Rouquet, respresenting Macron's La République en Marche (REM) party which claimed a majority with 308 seats.

Melenchon, who got 19.58 percent of votes in the first round of the presidential election in April, was elected in Marseille and will be one of Macron's staunchest opponents. The centre-right Republicans and allies will form the main opposition but with a disappointing 125 seats, down from 199, according to the estimate.

'Being a member of parliament for Republic on the Move is a commitment to Emmanuel Macron's presidential programme.

France's far-right leader Marine Le Pen won a seat in parliament for the first time, but it was a bittersweet victory that masked an electoral debacle for her National Front (FN) party.

France's government has resigned in a symbolic move after President Emmanuel Macron's centrist party won a majority in parliamentary elections.

The Socialist party was the biggest loser, expecting to shed more than 200 seats and hold only around 34 seats - again, better than forecast, but still a drubbing. After years of sluggish economic growth and patently poor leadership, the French electorate yesterday confirmed social and political changes the likes of which have not been seen since the revolution of 1789. Starting Monday, scores of freshly elected deputies who have never run for election before, among them entrepreneurs, teachers and farmers, will step inside the National Assembly.

Numerous party's new recruits are political unknowns, and Mr Philippe has attributed their election to a public appetite for new faces in parliament. Sunday's high abstention rate underlines that Macron will have to tread carefully with reforms in a country with muscular trade unions and a history of street protests that have forced many a past government to dilute new legislation. After five years of Socialist Party rule, in which former President Francois Hollande failed to meet his objectives of reducing unemployment and giving a boost to the flagging economy, the French were depressed and downbeat.

Ms. Le Pen, a former Presidential contender, said that: "President Macron may have won the majority of parliamentary seats, but he ought to know that his ideas are not the majority in the country and that the French will not back a project that weakens our state".

Official statistics showed turnout by mid-afternoon at 35.3 percent, down sharply from the last election in 2012, revealing a degree of election fatigue after four votes in under two months.

Macron fulfilled his wish to disrupt politics as usual with new faces - including a farmer, a teacher and a math genius - and a new approach.

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