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In France, polls suggest a victory for Socialist contender Francois Hollande, who wants to renegotiate a European treaty intended to limit excessive government spending to emphasize growth over austerity. Some investors fear Hollande could upset France's delicate cooperation with Germany, which has been critical to Europe's efforts to resolve its financial crisis. In Greece, no one party is expected to win a majority to create a government. Investors are hoping a coalition of the two main parties, which have agreed to the country's bailout terms, will win enough support to create another coalition government. In Asia, the Nikkei Stock Average in Tokyo slid 1.8 percent to close at 9,350.95, hurt by the higher yen. Australia's S&P/ASX 200 rose 0.8 percent to 4,429.50, after the Reserve Bank of Australia cut its benchmark interest rate by half a percentage point to 3.75 percent in a move aimed at stimulating the economy. Benchmarks in New Zealand and Indonesia also rose. Markets in China, South Korea, India, Singapore, Taiwan and Indonesia were among those closed for public holidays. In currency trading, the euro rose to $1.3251 from $1.3243 late Monday in New York while the dollar rose to 79.89 yen from 79.81 yen. Benchmark oil for June delivery fell 22 cents to $104.65 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 6 cents to end at $104.87 per barrel on the Nymex on Tuesday.
[Associated
Press;
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