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  • From the FT in London, here's the latest on markets.

  • That noise you can hear is the sigh of relief coming from trading floors,

  • that news that Emmanuel Macron has won decisively in his French presidential battle with Marine Le Pen.

  • The euro rushed high after the far-right candidate, a proponent of the return to the franc, and the referendum among E.U. membership, had lost.

  • But the rally quickly reversed.

  • And French stocks are, if anything, a little lower.

  • Government bonds are also going nowhere.

  • What's going on? Well, for once, the market saw this coming.

  • After the final presidential debate, they threw their weight behind the notion that Macron was the man,

  • helping French stocks to rally by some 6% in two weeks, to a 9.5-year high,

  • while the euro on Friday hit its highest point since November.

  • The gap between French and German bond yields had also contracted.

  • Investors remain positive that the result clears some big hurdles after the wave for investing in the eurozone.

  • But for now, it's a classic case of "buy the rumor, sell the fact".

  • Meanwhile, oil is a little steady around signs that OPEC production cuts could be extended.

From the FT in London, here's the latest on markets.

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B1 INT UK french macron euro rally presidential contracted

Euro slips after Macron's clear win | Market Minute

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