Apr 22, 2013
European markets cheer G20/IMF meeting
The German DAX 30 (+0.78%) and the French CAC 40 (+0.70%) are up on Monday, like the Spanish IBEX 35 (+1.90%), the Greek ATHEX (+1.93%) and the Italian FTSE MIB (+2.34%). Equity markets are higher today, pricing in their thoughts about the outcome of the G20/IMF, more inclined towards growth rather than fiscal dogma. In Italy. President Napolitano was re-elected to a second seven-year term (738/1007 votes), PD’s Bersani resigned after no agreement in five votes. “So Italy has a President but no leader for its largest party”, wrote analyst Annette Beacher, adding that Napolitano’s desire is for a broad coalition government that adopts much-needed electoral reforms, which would be market positive.
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