* Macron win positive, but priced in; fx, stocks give up ground * Crown touches 4-week high, zloty tests 20-month high * Government bonds firm, Romanian auction draws strong demand (Adds Romanian auction, Polish bonds, comments from Polish copper producer) By Sandor Peto BUDAPEST, May 8 (Reuters) - Central European stocks eased and currencies retreated from multi-week highs on Monday on profit-taking after pro-EU centrist Emmanuel Macron won France's second-round presidential election on Sunday.
The euro, which initially surged to a six-month high on Monday, also gave up its gains against the dollar and Western Europe's main equities indices, including Paris, fell.
Macron's victory over the far-right candidate Marine Le Pen underpins views that France remains committed to European Union and euro zone membership.
The reaction of markets shows that the outcome had been mostly priced in, said Zoltan Varga, analyst of Equilor brokerage in Budapest.
"This is the classic buy on the rumour, sell on the news," he said.
Macron's victory may mean some political friction for some Central European states in the medium-term, he added.
Macron said after his first-round victory that he would push for EU sanctions against Poland to defend the bloc's democratic values. He has also criticized Hungary.
The overall impact is positive as it brings more stability into European politics "so this would be highly beneficial for CEE markets which largely depend on the EU political unity," Raiffeisen analyst Gintaras Shlizhyus said in a note.
Macron will still face a tough national assembly elections campaign, Erste analysts said in a note.
Central European currencies traded 0.1 to 0.2 percent firmer against the euro at 1134GMT.
Initially, the Czech crown and the zloty strengthened by about 0.4 percent, with the crown touching a four-week high and the zloty testing 20-month highs.
Regional stock indices mostly eased, by less than 0.7 percent, or were flat.
Warsaw's bluechip index shed 0.6 percent, partly dragged down by a 4.5 percent fall of the shares of KGHM .
The company, one of the world's biggest copper producers, reported a 147 percent surge in its first-quarter net profits but its share price was hit by copper prices resuming their downward trend.
Copper prices fell to $5,493 per tonne on Monday after Friday's rebound from five-month lows.
KGHM Chief Executive Radoslaw Domagalski-Labedzki said he saw no fundamental reasons for the price to stay below $5500.
Bucharest's main index shed 0.1 percent, driven down by a 3.6 percent fall in the shares of BRD, which retreated from a six-year high hit on Friday after the bank reported a jump in first-quarter earnings.