European shares were called to open higher on Monday as exit polls showed the Greek people had voted for pro-austerity party New Democracy in the second set of elections in as many months, easing fears of a Greek exit from the euro zone.
The FTSE was called to open 55 points higher at 5534, the DAX was seen opening 132 points higher at 6361 and the CAC 40 was expected to open higher by 150 points at 3138.
Political party New Democracy , which supports the current terms of the bailout package agreed to between Greece and the so-called “Troika” of the European Union,(EU), International Monetary Fund (IMF) and the European Central Bank (ECB) won a slim majority in parliamentary elections on Sunday giving it the right to attempt to form a coalition government.
The party beat the leftist coalition of Syriza, led by 37-year-old Alexis Tsipras, who had argued that Greece should reject the current deal and renegotiate its terms with the Troika.
The win brought relief to the euro zone, which had been braced for fresh financial turmoil.
With 97 percent of ballots counted, New Democracy had taken 29.7 percent of the vote, with Syriza coming a close second on 26.9 percent. Former governing party PASOK, which collapsed in November of last year and was replaced by a technocratic government, came in third with just 12.3 percent of the vote.Page 1 of 5 | Next Page