Friday 26 May 2017

Investors shouldn't dismiss this as storm in a teacup

The Irish Stock Exchange in Dublin
The Irish Stock Exchange in Dublin
Thomas Molloy

Thomas Molloy

European markets seemed remarkably unperturbed by Friday's elections. The support for Independents and extremists evident in almost every corner of the continent has done nothing to shake investors' belief that Europe is on the mend.

Anybody looking at trading on the Dublin stock exchange rather than the news would have been completely unaware that we lost an austerity-supporting Tanaiste yesterday and gained several hundred elected representatives who have a mandate to reverse austerity policies.

Among Dublin's small stockbroking fraternity, only Goodbody's Dermot O'Leary deemed the elections worthy of any comment in his morning note yesterday.

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