The outcome of yesterday’s elections is friendly to markets, since it does not disturb political stability, even if the performance of the governing New Democracy party were somewhat dissapointing, states Nomura in an announcement made today.

As the agency notes, the election results is in line with one of the three scenarios analyzed last week. However, Nomura characterizes the low rate of the New Democracy party as being of concern, since it shows that the party base remains weak, despite the nature of “relaxed voting” that European elections usually have.

On the other hand, PASOK’s percentage is characterized as very satisfactory, which is considered to be an enhancement to the ability of Ev. Venizelos to control his party. Nomura, however, also notes that despite SYRIZA’s clear victory, the party did not improve its performance since June 2012’s national elections, and this, while it continues to attract much of the protest vote, which was dominant throughout the European elections.

“This reinforces the scenario of uninterrupted political stability during the summer and possibly the election of a President in the first quarter of 2015”, notes Nomura.