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Global Markets: UK election underway

By MarketsFarm

WINNIPEG, Dec. 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The United Kingdom votes in a new Parliament today. Polls are pointing to a small majority government for Boris Johnson’s Conservative government, although Jeremy Corbyn’s Labour Party has gained ground over the course of the campaign. A Conservative win would help move Brexit forward quickly, while Labour has promised to hold a new referendum on leaving the European Union.

– Algeria is also holding a presidential election on Thursday to replace a successor to former president Abdelaziz Bouteflika. Bouteflika had held power for nearly two decades, but was ousted by protestors earlier this year. The protestors have called the election a charade, as all five of the candidates have ties to the former regime.

– The European Central Bank kept its key interest rates and other stimulus programs unchanged on Thursday, as it held its first policy meeting under Christine Lagarde – the former head of the International Monetary Fund. Speaking after the announcement, Lagarde described herself as neither a dove nor a hawk – but rather “my ambition is to be an owl… associated with a little bit of wisdom.”

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