If you want more on the 2020 metals market, you can listen to John Anton and John Mothersole discuss whats coming o… https://t.co/SgImJnarum
Italy's regional elections
Exit polls of the regional election in Umbria, held on 27 October, point to a decisive victory for the right-wing candidate Donatella Tesei, who is backed by the anti-immigrant League party (Lega), the far-right Brothers of Italy (Fratelli d'Italia), and the center-right Forza Italia. With nearly 60% of the votes, Tesei decisively defeated her center-left rival Vincenzo Bianconi, leader of a civic alliance backed by the Democratic Party (Partito Democratico: PD) and the Five Star Movement (Movimento Cinque Stelle: M5S).
Tesei's victory marks the first time in the postwar period that a candidate from the right has won power in Umbria, a traditional stronghold of Italy's left. The Lega-led coalition's victory returns the momentum to its leader Matteo Salvini, who pulled the plug on the previous government in anticipation of early elections. Instead, Lega's previous coalition partner, M5S, allied with PD to form the second government led by Prime Minister Giuseppe Conte.
The Lega-led coalition's victory in Umbria reflects the continued rightward shift in public opinion even in traditionally left-wing strongholds. It also serves as an important indicator for upcoming regional elections in Calabria (December) and Emilia-Romagna (January).
The election in Emilia-Romagna is especially pivotal given that it is also a stronghold of the Italian left and four-times more populous than Umbria. The prospective loss of Emilia-Romagna would further divide the already fragile government coalition, prompting both M5S and PD to seriously reconsider the utility of their alliance.
Key here will be whether the leadership of both parties interpret such losses as voters rejecting their untypical alliance. This would likely preclude any substantial policy initiatives as both PD and M5S would increasingly prioritize early electioneering over policymaking. Although such setbacks would be unlikely to trigger an early election, which would probably favor Lega, government instability would increase as more voices within M5S would call for early elections, seeing it as an opportunity to remove the current leadership.
- Al-Shabaab attacks Kenya
- Capital Markets Weekly: Highly-active primary markets continue, reflecting seasonal factors
- Eurozone consumer staving off recession but watch the oil price
- Brazil's fiscal reforms
- Metals price outlook 2020
- Twenty-six states will raise their minimum wage in 2020
- Swedish Riksbank defies global monetary policy loosening
- Capital Markets Weekly: Markets shrug off Iranian risks
What will the market look like in 2020 for metals? Read more from John Anton and John Mothersole https://t.co/8SdKu3PfhY
We have a podcast! You can now hear our analysts at anytime from anywhere! To listen to the podcast, visit our we… https://t.co/NzhfxV2iBo