PARIS - France's outgoing President Nicolas Sarkozy and president-elect Francois Hollande on Tuesday led a ceremony at Paris' iconic Arc de Triomphe to mark the anniversary of the end of the World War II.

Sarkozy and Hollande inspected troops to the national anthem "the Marseillaise," together laid a wreath at the Tomb of the Unknown Soldier. Neither of them gave a speech during the ceremony.

This is the first official function for Hollande after he beat the incumbent Sarkozy in Sunday's French presidential election.

They were joined in the commemoration by Prime Minister Francois Fillon and government ministers, legislators, and military dignitaries. Former prime minister Lionel Jospin also attended the event.

Tens of thousands of French people since earlier in the morning had gathered along Les Champs Elysees avenue, to witness the historical moment of the two presidents attending the ceremony side by side, move seen by many as a sign of "reconciliation."

"There are issues that united all of us, beyond the person of Nicolas Sarkozy or of me," Hollande told journalists after the ceremony, "it was a gathering that should be done."

The Socialist Party's leader defeated Sarkozy in Sunday's runoff by a very slim margin of 3 percent of votes. He has vowed to serve the country well and bring changes to his debt-stricken country after elected.

The official transfer of power between the two presidents will be held on May 15 at the Elysee Presidential Palace.