LONDON May 26 European equities rose on Monday,
with Italy's FTSE MIB outperforming, as investors
welcomed the fact that European Parliament elections gave the
majority of seats to parties supporting the European Union.
Italy's FTSE MIB rose 2.4 percent, outpacing all
other major European indexes, led by a rally in domestically
focused banks such as UBI Banca and BP Milano
Germany's DAX also rose to a new record high of
9,834.36 points, before settling back to 9,828.41 points, while
France's CAC-40 also edged up by 0.2 percent.
Initial results from around the 28-nation bloc showed the
pro-European centre-left and centre-right parties will keep
control of around 70 percent of the 751-seat EU legislature.
The number of Eurosceptic members will however more than
double in the European Parliament, reflecting stunning victories
for eurosceptic nationalists in France and Britain in what was
seen as a protest vote against austerity and
Italian bond yields fell on Monday as Prime Minister Matteo
Renzi's centre-left Democratic Party looked set to win European
parliamentary elections, easing concerns of a victory by the
anti-establishment 5-Star Movement.
(Reporting by Sudip Kar-Gupta; Editing by Lionel Laurent)