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MELBOURNE, Australia -- French-trained Dunaden won the $6.2 million Melbourne Cup on Tuesday, beating England's Red Cadeaux by a nose in one of the closest finishes in the 151-year history of the two-mile turf handicap.

French jockey Christophe Lemaire guided Dunaden to the front a few strides from the line to hold off the fast-finishing Red Cadeaux, ridden by Australia's Michael Rodd.

German import Lucas Cranach, owned and trained in Australia, finished third at Flemington, where more than 100,000 fans awaited the photo-finish results.

Dunaden, by the British sire Nicobar from the French mare La Marlia, started an 8-1 second favorite after winning the Geelong Cup on Oct. 19 in its first start in Australia. Red Cadeaux started at odds of more than 30-1.

"I'm still shaking. It's amazing. I thought I was beaten, so it's even better," trainer Mikel Delzangles said.

Lemaire arrived in Australia from Japan only 24 hours before the race and was overcome with emotion when his narrow victory was confirmed.

"It's incredible -- it's a great moment for me," Lemaire said. "I was a bit anxious. I knew it was very close.

"I feel very sorry for Craig. He's a good friend of mine. I know it's very hard for him but it's part of a jockey's life and I'm sure he'll win the Melbourne Cup one year."

The win was Dunaden's eighth in 28 starts and earned his owner $3.6 million plus a trophy worth $175,000.

Copyright 2011 by The Associated Press

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