(Reuters.) European shares surged 1.2% early Friday trade, erasing weekly losses. Meanwhile, investors are looking forward to this weekend’s first round of French presidential polls, where incumbent Emmanuel Macron is not expected to win.

The gains were led by financial stocks and auto stocks, but all sectors are in positive territory. The pan-European indicator, which fell on Thursday, will now be 0.4% lower.

Banco BPM’s 10.7% rise was the top of the index, and it came after French bank Credit Agricole said that it bought a 9.2% share in Italy’s third biggest bank.

France’s centre-left Macron wins Sunday’s first round of presidential elections. But Marine Le Pen, Marine Le Pen’s far-right rival, surged in polls over recent weeks and her win is within the margins.

The 40 index rose 1.4% but fell more than 2 % this week, the highest among European peers. This is due to uncertainty around elections.