CPH Post

Business

Financial markets react positively to EP election results

Eurosceptic advances are not as bad as feared


Markets had feared even greater advances for Eurosceptic parties (Photo: Scanpix)

May 26, 2014
15:44

by Philip Tees


Børsen reports that the financial markets have responded positively to the results of the European parliamentary elections.

Relief
Frank Øland, a chief strategist at Danske Bank, was interviewed by Børsen TV. “There was maybe a bit of nervousness up to the election,” he said. “But now that we’ve got the result, the markets are taking a relieved breath in.”

He highlights the rise of Eurosceptic parties across the continent as being one of the points that had been causing concern.

Positive predictions
“Eurosceptics have advanced, but they aren’t in a position to have decisive influence. For example, Golden Dawn in Greece got 10 percent of the votes, but it could have been even worse,” he said.

The election of Poroschenko in Ukraine was also met with enthusiasm in the markets. Shares in Ukranian companies went up by 2-3 percent following the news.

Øland predicts that the stock market will climb by 5-10 percent over the next 3 months, depending on the outcome of the European Central Bank’s meeting next week.



Related stories



Latest Comments

This is by far the shitiest piece of writing i have read in cphpost . career...

(Stefan Valentin Pestean on March 29, 2015 21:35)

(November 30, -1 00:00)

Of course, Niddal El-Jabri and the EJA will receive little or no press, when...

(Lorenzo Luis Albano Farias on March 29, 2015 03:02)

Buy the real Ceylon cinnamon from here :)...

(Ananda Piyankara on March 28, 2015 15:37)

It appears, albeit sadly, that this is more a political maneuver than...

(Ripudaman Oberoi on March 28, 2015 14:31)

Compared to the banks i use in the rest of the world Danske are just a joke...

(Mark S Gordon on March 27, 2015 22:07)

I'm sorry but every time this guy writes an article I can't help but get...

(Line Dalsgaard on March 27, 2015 18:16)

Well, Two less to deport i guess.

(Alex DeGre?t on March 27, 2015 14:30)

In other news... The Danish gov will be wasting 80+ million to study the...

(Alex DeGre?t on March 27, 2015 14:24)

Vi er så dygtig her i Danmark !!! Vi er det bedste or nummer et !!

(Jon Paris King on March 27, 2015 14:23)