European political risk has risen as projections for the Italian election result point to deadlock, following a surge in support for the eurosceptic Five Star Movement and anti-immigration Northern League.
With votes still being counted, ex-Prime Minister Silvio Berlusconi's centre right coalition looks set to win the most seats in the lower house of parliament at around 248-268, but this is well below the 316 needed for a majority. However, the Five Star Movement appears likely to be Italy's biggest single party, with 32% of the vote. There was also a surge in support for the Northern League, led by Matteo Salvini, which is on track to beat Forza Italia and gain 17% of the vote to become the main conservative party in Italy. But the governing Democratic Party - headed by former pri...
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