Shares in toll road asset manager, Macquarie Atlas Roads (ASX:MQA), performed strongly during May.

There were three key drivers for the stock:

1. the election of Emmanuel Macron as French President was a positive as it removes the potential political risk around the asset and should stimulate economic growth if he delivers on his reform platform
2. the strengthening of the Euro against the Australian dollar assisted the translation of the value of the asset for domestic shareholders, and
3. the decline in bond yields during May have also been supportive of infrastructure assets.

Macquarie Atlas Roads' principal asset is the APRR toll road located in France. (VIEW LINK)