FREE now SUBSCRIBE Invalid email Make the most of your money by signing up to our newsletter fornow We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

French president elect Emmanuel Macron appeared to an audience worldwide last night after declaring victory in the country's elections. His rival Marine Le Pen accepted defeat just 11 minutes after the polls closed after projected votes declared the En Marche! candidate would win by a significant margin. Rather than having a significant impact on currency markets; the events which played out on live television worldwide, had a modest impact although charts showed some volatility around the time Mr Macron appeared on television while having his make-up done. French banks are all down on the day after the election of Mr Macron with Societe General down almost 2 per cent, BNP Paribas down 1.34 per cent, Natixis down 1.35 per cent. £1 = €1.18 / £1.29

twitter Emmanuel Macron has announced he has become the president elect

14.53 BST Russian President Vladmir Putin has reached out to Emmanuel Macron saying he "overcome mutual mistrust" following his election victory. In a telegram Putin told the new president: "The citizens of France have entrusted you the leadership of the country at a difficult time for Europe and for the entire international community. He said that given international terrorism it was: “particularly important to overcome mutual distrust and unite efforts to ensure international stability and security.”

GETTY Mr Putin has called for Emmanuel Macron to trust him

13.00 BST Prime Minister elect Theresa May has stepped into congratulate Mr Macron on his victory. The Conservative leader who has won plaudits for her Brexit means Brexit strategy but who originally wanted to remain in the European Union said she's hoping to get as many votes as Mr Macron. Mr Macron beat his opponent hands down but wasn't as successful as he would have liked thanks to millions of spoiled ballot papers. Nevertheless Mrs May says she hopes she can repeat his achievement, she said: “Yesterday a new French president was elected. He was elected with a strong mandate which he can take as as strong position into the negotiations," she said at an event in Harrow. "The UK we need to ensue we have an equally strong mandate and an equally strong negotiating position.”

GETTY Mr Macron met Theresa May in Downing Street in March

11.47am Shares in Deutsche Bank are down significant amounts this morning on news of an Emmanuel Macron victory. 11.00am German Foreign Ministry spokesman says no time should be lost in supporting France to implement economic reforms and strengthen role in Europe, according to Reuters. Finance Minister Wolfgang Schaeuble told the weekly government news conference that he would be open to discussing measures to strengthen the eurozone but tha Berlin remained opposed to eurobond debt.

I warmly congratulate @EmmanuelMacron on his success and look forward to working with him on a wide range of shared priorities. — Theresa May (@theresa_may) May 7, 2017

10.30am Paresh Davdra, CEO and Co-Founder of RationalFX said: "The euro initially reached a 6-month high against the dollar before falling back as investors begin to look towards the future. "The markets recognise that Macron faces immense domestic challenges including ending years of high unemployment and sluggish growth, which will impact on the long term prospects for the euro if he is unable to tackle these challenges effectively. "Investors will be watching closely to see how the Macron presidency unfolds, and if his administration will help to restore the euro to strength.”

GETTY Mr Macron and his wife have been very public with their relationship

9.43am BST update: Ratings Agency Moodys says that President-elect Macron is facing tests as questions are raised over the legislative elections next month. Sarah Carlson, a Moody's Senior Vice President: “The ability of France's policymakers to design, and successfully implement, policies which enhance growth and support fiscal consolidation over time will drive the trajectory of France's rating and outlook over the medium-term. ”The new president will face tests in all of these areas."

GETTY Francois Hollande watched TV surrounded by packed shelves filled with memories

9.26am BST update: Peter Ashton, managing director of Eiger FX, commented: “For once the currency markets have been revelling in the accuracy of the opinion polls. Macron’s campaign had gained an air of invincibility after he narrowly came out on top in the first round. “But while his final victory was as crushing as it was expected, the Euro has so far failed to follow the script. Rather than rocketing in relief, the single currency began the week with all the ups and downs of a French farce. "Sometimes currencies spike beyond what's priced in, as the expected outcome becomes fact. The Euro’s stubborn refusal to surge reveals a deeper malaise surrounding the single currency. "Macron’s victory will soothe frayed nerves in Brussels. But the spectre of populism is growing across Europe and the markets are increasingly looking to this broader trend rather than one-off events. "Le Pen lost but she still took more than a third of the votes cast, and the consensus is that she will be a far more significant force come 2022 if France follows its current economic trajectory."

09.20am BST update: Emmanuel Macron’s French Presidential win, Darren Ruane, Head of Fixed Interest at Investec Wealth & Investment, said: “Given that Macron’s election win was fully expected by markets, early price movements show a small degree of profit-taking. "European equities are lower by 0.3%, the Euro has weakened against the Dollar and French government bond yields are underperforming their German counterparts".

Macron gathered 65.9% of the votes, 3 points above the latest opinion polls Morgane Delledonne: Fixed Income Strategist‎, ETF Securities

9.10am BST update: Morgane Delledonne: Fixed Income Strategist‎, ETF Securities analyses Macron's win and impact on markets: "Macron gathered 65.9% of the votes, 3 points above the latest opinion polls. "Overall, we expect market participants to see Macron's victory as a relief but to have only a limited positive impact on markets on Monday morning as his victory has been priced in after the first round. "‎The French - German government bond spread already tightened to 43bps last Friday ahead of the results, from over 85bps prior the first round, but still have to go back to its pre-election level of ~30bps.

Congratulations to Emmanuel Macron on his big win today as the next President of France. I look very much forward to working with him! — Donald J. Trump (@realDonaldTrump) May 7, 2017

"However, France and Europe only narrowly survived populism.‎ "One third of the French electorate did not vote in this second round and Le Pen obtained 34.1% of the votes, which is almost twice what her father got in 2002, leaving the new President elect with large domestic challenges. "The next decisive step for France will be the Parliamentary elections. The latest polls indicate Macron's party "En Marche" to be the first party at Parliament followed with the Republicans. This likely centre-right majority at Parliament is increasing the chances for Macron to pass his liberal reforms on taxes, labour and trade".

GETTY Mr Macron appeared on television and prepared his speech live

Meanwhile US President Donald Trump once again appeared to extend the olive branch to Mr Macron who is facing an uphill battle to unite the French people after the ugly elections which saw 4 million spoiled ballot papers. Canadian Prime Minister Justin Trudeau told Mr Macron that he intends to implement "the Canada-European Union Comprehensive Economic and Trade Agreement” after the president-elect threatened to veto it last week in a campaign pledge.

Shocking riots in Paris during the French presidential election Mon, April 24, 2017 Demonstrators clash with riot police after partial results in the first round of 2017 French presidential election, in Paris Play slideshow AFP/Getty Images 1 of 12 A member of feminist activist group Femen is detained by a police officer as they protest against French presidential election candidate Marine Le Pen