The Upcoming
  • Culture
    • Art
    • Cinema & Tv
      • Movie reviews
      • Film festivals
      • Shows
    • Food & Drinks
      • News & Features
      • Restaurant & bar reviews
      • Interviews & Recipes
    • Literature
    • Music
      • Live music
    • Theatre
  • Fashion & Lifestyle
    • Accessories
    • Beauty
    • News & Features
    • Shopping & Trends
    • Tips & How-tos
    • Fashion weeks
  • What’s On
    • Art exhibitions
    • Theatre shows
  • Tickets
  • Join us
    • Editorial unit
    • Our writers
    • Join the team
    • Join the mailing list
    • Support us
    • Contact us
  • Interviews
  • Competitions
  • Special events
    • Film festivals
      • Berlin
      • Tribeca
      • Sundance London
      • Cannes
      • Locarno
      • Venice
      • London
      • Toronto
    • Fashion weeks
      • London Fashion Week
      • New York Fashion Week
      • Milan Fashion Week
      • Paris Fashion Week
      • Haute Couture
      • London Fashion Week Men’s
  • Facebook

  • Twitter

  • Instagram

  • YouTube

  • RSS

Current affairs

Greek election result boosts market

Greek election result boosts market
18 June 2012
Rajeeb Gurung
Avatar
Rajeeb Gurung
18 June 2012

Greece’s New Democracy party’s victory in the country’s general election boosted the global market slightly as Greece continues to stay in the Euro.

Antonis Samaras narrowly won the election, taking 29.7% of the vote compared to Syriza’s 26.9% of the vote. Had the latter won the election, Greece would have bowed out of Euro and reverted back to their old currency, the Drachma, an act which the analysts had feared would adversely affect the stock markets worldwide.

Following the election results, Asian markets saw a rise in their stocks. Japanese Nikkei 225 index closed up 1.9% to 8,721.02 while Hong Kong’s Hang Seng rose 1% to 19,427.81. Chinese Shanghai Composite Index and the Shenzhen Composite Index added 0.4% to 2,316 and 1.1% to 964.71 respectively. Australia’s S&P/ASX200 also added 2% to 4,136.90 and South Korea’s Kospi climbed 1.8% at 1,891.71. 

Meanwhile, the euro hit a one-month high against dollar, rising to $1.2748 and European markets all moved higher. The French Cac 40 and German Dax were up 1% on early trading and the UK FTSE 100 was up 0.7% in the early trading. Despite the rise in market early morning, European stock market saw their stock decline by midday, reminding Europe that the crisis is far from over.

Antonis Samaras, the leader of the new Democracy party, will now try to form a coalition with a pro-bailout party as they desperately try to overcome the Euro crisis.

Greece has been dependent on rescue loans to operate since May 2010 and is running in its fifth year of recession, with unemployment rate sky rocketing to 22% and tens of thousands of businesses shutting down.

Rajeeb Gurung

Related Items

More in Current Affairs

Changes to expect during menopause

The editorial unit
Read More

Nek brings Italian pop rock to the Shepherd’s Bush Empire

The editorial unit
Read More

Why Equity Linked Savings Schemes is a preferred tax saving?

The editorial unit
Read More

How the world’s top designers would rebrand political parties

The editorial unit
Read More

Royal baby furore: Proof that the British monarchy is still popular?

Eoin O’Sullivan-Harris
Read More

World Mental Health Day 2018: Raising awareness and combating stigma

The editorial unit
Read More

Seven political personalities you should know about

The editorial unit
Read More

Donald Trump: An enemy of the arts?

The editorial unit
Read More

Trump’s fortune: Where did the money come from?

The editorial unit
Read More
Scroll for more
Tap
  • Popular

  • Latest

  • TOP PICKS

  • The Girl and the Spider (Das Mädchen und die Spinne)
    ★★★★★
    Berlinale
  • Celebrate International Women’s Day with a Bombay Sapphire Cocktails & Create masterclass
    Food & Drinks
  • Kings of Leon – When You See Yourself
    ★★★★★
    Album review
  • Limbo
    ★★★★★
    Berlinale
  • Delectible drinks that would make the perfect Mother’s Day gift
    Food & Drinks
  • Killing Escobar
    ★★★★★
    Glasgow
  • “There really hasn’t been a film that deals with a platonic male-female relationship in this way”: Natalie Morales and Mark Duplass discuss Language Lessons
    Berlinale
  • A Brixton Tale
    ★★★★★
    Glasgow
  • Surge
    ★★★★★
    Glasgow
  • The Old Ways
    ★★★★★
    Glasgow
  • Berlinale 2021 winners: The full list
    Berlinale
  • WandaVision
    ★★★★★
    disney
  • Coming 2 America
    ★★★★★
    Movie review
  • Kings of Leon – When You See Yourself
    ★★★★★
    Album review
  • The Dissident
    ★★★★★
    Movie review
The Upcoming
Pages
  • Contact us
  • Join mailing list
  • Join us
  • Our London food map
  • Our writers
  • Support us
  • What, when, why

Copyright © 2011-2020 FL Media

Olympic ticket investigation over black market claims
New drug on the market leads to violent outcomes