Renzi The down and out former darling
Al Jazeera's Laurence Lee, also reporting from Rome, said on Monday that the collapse of the centre-left politics across Europe was now "a properly engrained trend".
Investors should have no fear, he said, but the prospect of a eurosceptic-led administration promising to ramp up spending hit shares, bonds and the euro.
The Italian political world has been struck by a populist tsunami - 50 percent of voters in Sunday's parliamentary elections chose candidates from anti-establishment, anti-immigrant and euroskeptic parties.
In L'Espresso weekly's online edition Marco Damilano wrote: "On the night of March 4, the winners are (Five Star Movement leader Luigi) Di Maio and Salvini". "We are a political force that represents the entire nation", he declared. President Sergio Mattarella is not expected to open formal coalition talks until early April, Reuters reported.
However, it is the League leader Salvini along with former Prime Minister Silvio Berlusconi who are expected to take the majority of seats in the lower house of parliament.
"It was an extraordinary victory that fills us with pride and responsibility", Salvini said.
"I have not spoken with Berlusconi but the agreement between friends is clear and holds", he said.
However despite the big gains enjoyed by the far right, polls indicate that the likeliest result is a stalemate between the M5S, Berlusconi's coalition and the centre-left grouping led by the ruling Democratic Party (PD).
Under the pugnacious leadership of Matteo Salvini, the League (he dropped the word "Northern" for the campaign to widen his appeal beyond the party's original geographical base) was on course to take about 18% of the vote-four percentage points more than Silvio Berlusconi's more moderate Forza Italia party.
But its partner, the League, which calls for tougher controls on immigration and is opposed to the euro, gained more seats.
Shedding Light on Macy's, Inc. (NYSE:M)'s Quant Scorecard
After $0.91 actual EPS reported by Bio-Techne Corporation for the previous quarter, Wall Street now forecasts 17.58% EPS growth. It also reduced Cheniere Energy Inc (NYSEMKT:LNG) stake by 285,705 shares and now owns 2.83 million shares. (NASDAQ:TBBK).
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The European Commission has said it would respond "firmly" to proposed US import duties of 25 percent on steel and 10 percent on aluminium.
IBP president warns of possible backlash on petition vs Sereno
Roque said the Palace would merely await either the decision of the Supreme Court or Congress, with regard to Sereno's fate. And also to assure the respondent, the Chief Justice, we will be fair. "We were required by JBC to submit SALNs".
Salvini's radicalism and harsh rhetoric (particularly on immigration) makes it less likely that anyone would want to give the right wing coalition this opportunity (and in any case, it is not clear at this stage where such extra MPs would come from).
However under a new electoral law being tried out for the first time, any grouping would need at least 40 percent of the vote to command an overall majority of seats in both chambers of parliament. Chris Williamson, the firm's chief business economist, said it's "too early to read too much" into the monthly decline but noted that some pull-back was "always on the cards".
In fact, the outgoing government headed by the centre left Democratic Party had been making reasonable progress.
The League leader also spoke of an evolving relationship between Italy and the European Union, and touched on the future of the euro. This stance has helped erode Italian faith in Europe and French President Emmanuel Macron said on Monday the election result was a reminder of problems caused by migration.
With votes counted from more than 75% of polling stations, it looked nearly certain that none of Italy's three main factions would be able to rule alone and there was little prospect of a return to mainstream government, creating a headache for the European Union.
And any concerns over a threat to the stability of the eurozone posed by an inconclusive Italian election result will also have been tempered by news over the weekend that a coalition government in Germany has been formally signed off by Chancellor Angela Merkel's coalition partners.
"We won't have a government any time soon", Antonio Risconi, a resident of Milan, said as ballot counting continued.
Formed in 2009, 5-Star has fed off public fury over institutional corruption and economic hardship.
BBC Europe editor Katya Adler tweeted that it was "theoretically possible for the EU's nightmare result to come true: a coalition between the "populist Eurosceptics": Five Star and Lega [the League party]".
The center-left coalition that has governed Italy since 2013 trailed badly at 23 percent.
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