Polish assets bounce as investors welcome election victory for pro-EU parties

Poland’s stocks, bonds and currency jumped on Monday as investors bet that pro-European Union parties were on course to defeat the incumbent nationalists following the country’s general election.

Early results and two exit polls suggested Civic Platform won 31% of votes against the ruling Law & Justice Party’s 36.6%. But together with its coalition partners Civic Platform is on track to secure a majority 248 of the 460 seats in the Sejm, the lower house of Poland’s parliament. Civic Platform, in contrast, is led by former European Council President Donald Tusk, and his mooted victory points to many Poles wishing for a more collegiate partnership with the EU — a re-set that may also allow access to tens of billions of euros that had been withheld by the EU because of PiS infringing the bloc’s rule-of-law standards.

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