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Eugene

(61,593 posts)
Mon May 27, 2019, 12:13 PM May 2019

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 bloc’s parliament despite the rise of nationalist parties in a region-wide vote.

Germany’s DAX climbed 0.5% to close at 12,071.18, while the CAC 40 in France added 0.4% to 5,336.19 and Britain’s 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
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World stocks rise as EU vote avoids worst case scenarios (Original Post) Eugene May 2019 OP
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