PARIS (Reuters) - EU tests of banks' ability to withstand financial shocks, criticised as too easy after only seven out of 91 failed, face their own stress test in the markets today with early signs pointing to a more positive response.

European Union policymakers and regulators voiced relief at Friday's results but some market analysts and many media commentators derided an exercise in which all listed banks passed as lacking in credibility.

"I see nothing stressful about this test. It's like sending the banks away for a weekend of R&R," said Stephen Pope, chief global equity strategist at brokers Cantor Fitzgerald.

There was scepticism about EU regulators' conclusion that banks need only a total of 3.5 billion euros ($4.5 billion) in extra capital. Market expectations had ranged from 30 to 100 billion euros, although many European banks have already raised capital during the financial crisis.

Only five small Spanish banks, Germany's state-rescued Hypo Real Estate and Greece's Atebank failed outright. More than a dozen others scraped through with just over the required six percent of Tier 1 capital in the most stressful scenario and are likely to come under market scrutiny.