Velasco has lead on European Tour MADEIRA, Portugal, May 10 (UPI) -- Alvaro Velasco, seeking his first victory on the European Tour, shot an 8-under 64 Thursday and took the lead after one round of the Madeira Islands Open. Velasco had a bogey-free round at the Santo da Serra Golf Club. He was two shots in front of Tommy Fleetwood, Morten Orum Madsen, Magnus A. Carlsson, Joakim Lagergren, Oliver Wilson and Ben Parker. Velasco has missed the cut in 17 of his last 21 stars on the European Tour, although he tied for ninth last month at the Sicilian Open. Most of Europe's top stars are competing this week at The Players Championship in Florida.