Beppe Grillo's Five Star Movement On Verge of Being Largest Political Party in Italy; Italy Stock Market Futures Plunge 3.5%

From Mish's Global Economic Trend Analysis
February 25, 2013 - 5:16pm
As the vote totals wind down, Beppe Grillo is the symbolic winner in the election. His MoVimento 5 Stelle (MS5 - Five Star Movement) is on the verge of becoming the largest party in Italy by popular vote. As of 4:00 PM... The center-left coalition of four political parties has 29.7% of the vote, but Bersani's party, Partito Democratico (Pd), has 25.5% of the vote. Beppe Grillo has no coalition. His MoVimento 5 Stelle (M5S) party is in a dead tie with 25.5% of the vote. The center-right coalition of nine political parties received 29.0% of the vote, but Berlusconi's party, Il Popolo della libertà (Pdl), received 21.4% of the vote. On an Actual Party (Not Coalition Basis) Pier Luigi Bersani - Partito Democratico (Pd) - 25.5% Beppe Grillo - MoVimento 5 Stelle (M5S) 25.5% Silvio Berlusconi - Il Popolo della libertà (Pdl) - 21.4% Those totals are as of 4:00 Central. I have been watching the totals for a half hour. M5S has been inching up steadily. A half hour ago M5S was down by .5%. Momentum suggests M5S will overtake Partito Democratico (Pd). Italy MIB Stock Market Futures Plunge From the Guardian Election Blog Update As of 4:20 PM Grillo move into a vote lead for the first time I have been watching. Percentages still locked at 25.5% each. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com  Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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