According to Le Monde:
Le candidat de l'UMP est en t+¬te avec 29,8 % des voix, selon les sondages sortie des urnes. S+¬gol+¿ne Royal est deuxi+¿me +á 25,6 %. Fran+ºois Bayrou est +á 18,5 % et Jean-Marie Le Pen, +á 11,3 %. Sources : IFOP, Ipsos, CSA, TNS-Sofres.
Now, I haven't taken French in a few years, but I'm pretty sure that means Nicolas Sarkozy (right-of-center UMP party) is in the lead, according to exit polls, by a narrow margin over the Socialist candidate, S+¬gol+¿ne Royal. This means that Sarkozy will face Royal in the second round of voting on 6 May.
P.S. By the way, according to the AP, "[t]urnout was over 80 percent, the polling agencies said, nearing the record of 84.8 percent set for a first round in 1965." That's impressive; sure would be great to see turnout like that in the United States! (does it have something to do with the fact that the French hold their elections on a weekend?)
Regarding the run-off. Nobody knows for sure. It will be close. And the showdown just begun. Before the candidates couldn't get much TV time to talk about their plans, as French law recuires all TV Station to give equal time to every candidate. Now there are just two, so they will get it and reach those unsure voters which don't read newspapers so much.
And, as TV Ads are forbiden in France and the candidates have a strict spending limit, the two weeks are very important for a lot of French to finaly make up there minds.