Last night in the Greek Election Syriza Surges to power, gaining a lot of votes but falling short of an outright majority, thus he announced to form a coalition with the right wing – Greek independent party.
First day of the week, after the Syriza victory we saw majour Asian stock markets close negative after the Greek election results. The Nikkei closed -0.3% at 17.468,52, the Topix retraces -0.08%, closing at 1,402.08, on the other hand closed up +0.07% and Seoul -0.02%
Last week US stock markets closed the last day of the week down after a good trading week, thanks to profit taking and uncertainty of the Greek elections that were held on Sunday. DJI closed -0,8% and the S&P 500 -0,6%, bucking the trend Nasdaq +0.02%
In Europe, instead the markets ended the last day of the week in positive territory, FTSE 100 +0,5%, CAC40 +1,9%, DAX +2,1%, IBEX 35 +0,7% SMI +2% and EuroStoxx 50 +1,8% reaching highs since September 2008. All this was still echoing from the liquidity Draghi announced he will be putting into the markets through his bond purchasing program.
In the Currencies, the Euro was the biggest looser reaching an 11 year low at 1,1098.
Given the uncertainty in the Eurozone and the strengthening of the dollar we saw a bounce in Brent oil prices trading up 0.9 cents at 47,90.