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Italy: Milan stock exchange hardly reacts to right

2022-09-26T09:46:57.480Z

The shift to the right in Italy after the parliamentary elections has so far played almost no role on the stock markets. In Milan, the leading index rose by around one percent.



Enlarge image

Giorgia Meloni voting: Are you and your fascist party in a coalition with Lega and Forza Italia?

Photo: ANDREAS SOLARO / AFP

European stock markets remained calm in view of the right-wing victory in the Italian general election.

On the Milan stock exchange, the leading index was up around one percent in the morning, while the banking index rose by 2.2 percent.

The Italian stock exchange thus recorded slightly larger growth than other European trading venues.

Investors may have already priced in the result, as prices had fallen sharply last week.

According to projections, Giorgia Meloni's right-wing party Fratelli d'Italia (FDI) won the election with around a quarter of the votes.

With her allies, the right-wing Lega and Silvio Berlusconi's conservative Forza Italia (FI), Meloni received a good 43 percent of the votes, which, given the complex Italian electoral system, should be enough for an absolute majority of seats in the House of Representatives and the Senate.

wait for development

"During the election campaign, Giorgia Meloni sent reassuring messages about fiscal policy and Italy's relationship with the EU," market analysts at Unicredit said.

"But investors will need time to assess whether she intends to deliver on those promises."

In addition, Italy could also exist on the financial markets under Meloni, as Commerzbank researcher Jörg Krämer said in the SPIEGEL interview.

And even a right-wing government doesn't want to mess with Brussels, on whose money it depends in many areas.

Due to the bleak prospects for the economy, greater uncertainty must be expected in many European countries anyway.

There were correspondingly stronger movements in the leading German index at the beginning of the week.

The Dax initially continued to expand its losses from the previous week as a result of a wave of fears of a profound economic downturn before recovering.

Apr/AFP

Source: spiegel

All business articles on 2022-09-26

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