>> Relief across global markets after Emmanuel Macron's victory in the French election. By equity, struggling to hold on to early gains with most investors saying a win for the independent interest was already priced in. European shares hit fresh highs Monday in early deals before dipping into the red, pulled lower by banks and resources related stocks.
The Pan European stock 600 and France's KAQ both following back later in the morning session. The KAQ off almost 1% by lunchtime. That's after hitting its highest levels in more than nine years earlier in the month. A similar story on currency and debt markets with the Euro and French government bonds soon giving up early gains.
Macron's business-friendly vision for European integration preferred by markets to far-right nationalist Marine Le Pen. She had threatened to take France out of the EU. But there's uncertainty about Macron's likely team and his ability to govern. His EnMarche Party currently has no MPs making June's Parliamentary elections a critical test.
For now, though, investors may turn their attention back to the next big threat, Brexit. Macron widely expected to support taking a tough line with London in negotiations.