World stocks rise as EU vote avoids worst case scenarios
Source: Associated Press
World stocks rise as EU vote avoids worst case scenarios
By ELAINE KURTENBACH
May 27, 2019
BANGKOK (AP) Stocks rose in Europe on Monday, after a mixed day in Asia, as pro-EU forces retained a majority in the 28-nation blocs parliament despite the rise of nationalist parties in a region-wide vote.
Germanys DAX climbed 0.5% to close at 12,071.18, while the CAC 40 in France added 0.4% to 5,336.19 and Britains exchange remained closed for a bank holiday. Markets in the United States were also closed, for the Memorial Day holiday.
In the European election, far right and populist parties were among the biggest winners, as voters voiced concerns over immigration and security. Environmentalist parties also made strong gains, especially in Germany, at the expense of center-right and center-left groups that have dominated the EU. Despite their losses, pro-EU parties retained a majority in the European parliament, easing concerns of a worst-case scenario where nationalist parties foil policies for further EU integration.
The deeply divided right-wingers will remain far away from wielding any significant power at the European level. They will not be able to block significant decisions, said Holger Schmieding, economist at Berenberg bank.
-snip-
Read more:
https://apnews.com/13f5c2b4d3ff4524aa115ba0c865972b