European stock markets up after Greek weekend poll showed support for conservative party

European markets have risen after a weekend poll in Greece showed growing support for a pro-austerity conservative party.

The survey suggested the New Democracy party could gain about a quarter of the votes, leaving it as the biggest party, albeit without overall control.

Elections are due to be held on 17 June.

London, Paris and Frankfurt stock markets all rose at least 1%.

European markets have risen after a weekend poll in Greece showed growing support for a pro-austerity conservative party

Spain’s leading IBEX index was out of step with the rest of Europe, falling by 0.5%.

Spain’s Bankia, which late on Friday asked for an injection of 19 billion Euros ($24 billion) in state support, fell 27% as it resumed trading on Monday. Its shares had been suspended on Friday pending the funding request.

Meanwhile, bond markets continued to reflect the tensions in the eurozone with the difference between the premium investors demand to hold Spanish government bonds and that of their German counterparts, at a record high.

The spread between 10-year Spanish and German bonds rose to 5.05 percentage points after Spanish government bond yields rose to 6.43%.

Italian government bond yields also ticked higher, rising to 5.87%.

London’s FTSE 100 share index was up 1%, Frankfurt’s DAX up 1.2% and Paris’s CAC 40 was up by 1.1%.

Although both Germany and France have a public holiday on Monday, their equity markets remain open.

 

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

2 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

2 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago

Canada Expels 6 Indian Diplomats Amid Khalistan Row

India and Canada have decided to expel their top envoys along with other diplomats as…

3 weeks ago