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  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 to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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