PARIS — French President-elect Emmanuel Macron laid the groundwork yesterday for his transition to power, announcing a visit to Germany and a name change for his political movement and appearing with his predecessor at a solemn World War II commemoration.

Mr Macron’s victory against far-right National Front leader Marine Le Pen in Sunday’s presidential runoff brought huge relief to European allies and financial markets who had feared another populist upheaval to follow Britain’s vote to quit the European Union (EU) and Mr Donald Trump’s election as United States President.

France’s morning newspapers applauded Mr Macron’s achievement but tempered their enthusiasm with questions about his choice of prime minister and doubts about his electoral prospects in June, which some call the third round of the presidential election.

The euro dropped and French stocks were weaker yesterday as attention turned to the challenges that lie ahead for Mr Macron.

Relief at the likely defeat of far-right leader Ms Le Pen had already pushed France’s benchmark equity index up 6 per cent in the previous two weeks, and yesterday the France CAC 40 retreated 0.9 per cent to 5,385 by late morning (local time). The euro fell 0.5 per cent, to US$1.0946 (S$1.53774).

As the dust of his electoral victory settles, Mr Macron must now get to work and pull together a majority of lawmakers for his year-old political movement to run in the mid-June legislative election.

His party is changing its name to La Republique En Marche (Republic on the Move) as it prepares a list of candidates. Mr Macron has promised that half of those candidates will be new to elected politics, as he was before his victory on Sunday.

The other half will be made up of figures from the centrist Modem party with which he struck an alliance, as well as defectors from the centrist factions of the left-wing Socialists and right-wing Republicans.

Mr Macron won the presidency with 66 per cent of votes cast for a candidate. But a high number of blank or spoilt votes and unusually low turnout are signs of an electorate dissatisfied with its choices.

The President-elect joined President Francois Hollande yesterday in commemoration of the end of World War II. The holiday marks the day of the formal German defeat in World War II.

It was the first time the men had appeared in public together since Mr Macron resigned in August 2016 as Mr Hollande’s economy minister to run for president — a decision that was received coldly by the French leader at the time, according to local media.

Yesterday though, Mr Hollande gripped Mr Macron’s arm before the two men walked side by side and then announced the transfer of power would take place this Sunday, a week after the election.

Ms Sylvie Goulard, a French deputy to the European Parliament, said Mr Macron would make Berlin his first official visit, with perhaps a stop to see French troops stationed abroad as well.

The National Front, meanwhile, is also gearing up for a name change — if not a makeover of its ideas — after Ms Le Pen’s decisive loss. In interviews yesterday, officials said the party founded by Ms Le Pen’s father would get a new name to try to draw in a broader spectrum of supporters.

“The National Front is a tool that will evolve to be more efficient, bring even more people together after the number of voters we reached last night. And so we have an immense responsibility vis-a-vis the French people, who trust us,” said secretary-general Nicolas Bay.

In Germany, Chancellor Angela Merkel yesterday pledged to help France tackle unemployment and to work together with Mr Macron to promote European stability.

“He carries the hopes of millions of French people, and of many people in Germany and the whole of Europe,” Ms Merkel said. “He ran a courageous pro-European campaign, stands for openness to the world and is committed decisively to a social market economy.” AGENCIES