Socialist Hollande won the Presidential Elections, defeating Sarkozy, the present incumbent by 51.9 against 48.1% as Ipsos exit polls show.
Hollande will be the First Socialist President since 1995.
Analysts say the vote has wide implications for the whole eurozone. Mr Hollande has vowed to rework a deal on government debt in member countries.
The estimates were carried by French media after all polling stations closed at 20:00 (18:00 GMT).
Exuberant Hollande supporters have already converged on Place de la Bastille in Paris – a traditional rallying point of the Left – to celebrate.
Mr Hollande capitalised on France’s economic woes and President Sarkozy‘s unpopularity.
The socialist candidate has promised to raise taxes on big corporations and people earning more than 1m euros a year.
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RESULTS
SOURCE: TNS SOFRES SOPRA GROUPE Share Vote F. Hollande 52% Projection N. Sarkozy 48% He also wants to raise the minimum wage, hire 60,000 more teachers and lower the retirement age from 62 to 60 for some workers.
http://www.bbc.co.uk/news/world-europe-17975660
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