Italy's center left makes world headlines with probable win

Wall Street Journal, Die Welt note surge in markets

Italy's center left makes world headlines with probable win

Rome, February 25 - A probable center-left victory in Italian elections Monday made headlines across international media as the first exit polls predicted a sizeable majority in the House and a moderate lead in the Senate. Financial daily The Wall Street Journal and German newspaper Die Welt both noted positive results in bond markets as the Italian spread with the benchmark German bund dropped eight basis points in minutes to 261 after exit polls showed the center left in the lead. The stock market also surged shortly after the results of the instant polls, with Milan's FTSE-Mib index up 3.9%. "The two-day election is one of the most important in recent Italian history, as it comes after a year of an emergency government that introduced a number of austerity measures aimed at fixing Italy's public finances and set the country on the path of longer-term economic reforms," said the Wall Street Journal. Other media leaders such as the Financial Times, BBC, Le Figaro and El Pais issued breaking news on the likelihood that Pier Luigi Bersani, head of the center left, would win more votes than centre-right leader Silvio Berlusconi, the centrist and outgoing Premier Mario Monti, and the antiestablishment comic Beppe Grillo, as opinion polls before the election Sunday and Monday had predicted.

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