LONDON - Election results in Mexico, South Africa and India jolted currencies and stocks alike, a stark reminder that politics still matter for markets in a year when countries accounting for more than 60% of global economic output and more than half its population will vote.
The far-right Chega did well in Portugal's March election, and pollsters tip Belgium's far-right party to do well in June 9 federal elections. Investors expect Labour to follow a pro-business agenda, improve relations with the EU and avoid spending splurges, meaning any policy bombshells from opposition leader Keir Starmer could unsettle UK markets.President Nicolas Maduro is running for a third term in the July 28 elections - a race the opposition will contest for the first time in a decade after boycotting the 2018 ballot.
Trump's proposal to go further than Biden against China, with a 60% tariff on imports if he wins a second four-year term, would mean higher U.S. inflation and interest rates, UBS reckons.India's self-styled strongman Prime Minister Narendra Modi won a record-tying third term, as expected. As ANC leaders sized up which party to align with - the free-marketeer Democratic Alliance , the populist uMkhonto we Sizwe or the Marxist Economic Freedom Fighters - the Rand currency clawed back from its post-election pounding, but has lost more than 1.4% this month.Mexico elected its first female president, Claudia Sheinbaum, but an unexpected supermajority gave the ruling coalition sweeping powers for constitutional changes.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »