Labour victory would be ‘positive for UK markets’, says JP Morgan; euro slides after European election results – as it happened

Investors are rattled after far right parties make gains in European elections, while analysts at JP Morgan say a Labour win would support UK stocks

The euro continues to bob around a one-month low this morning, at $1.0763 against the US dollar:

French banks are being hit by the political uncertainty created by Emmanuel Macron's snap election.

Investors are assessing Macron's gamble in attempting to reassert his authority after voters shifted en masse to the Far-right during the EU elections, in both France and Germany. The euro has dropped sharply against the dollar, to $1.074, the lowest in a month amid the surprise turn of events.