People`s Party won 137 seats in Spain`s Elections (2nd update)

Peoples of Spain turned to pro-establishment People`s Party of Mariano Rajoy, which has won 137 the seats (39% of 350) in the repeated Spanish Elections compared to 123 in December. The two biggest left wing parties of the country, Unidos Podemos will have 71 (unchanged) and the Socialist party 85 seat (down from 90) in the new parliament. In contrary to the earlier estimates the two won`t be able to form a government with absolute majority in the Spanish Parliament.

None of the parties has won an absolute majority in the 350-strong parliament. The second general elections in 6 months was supposed to solve the political deadlock in the country, after the winner parties couldn`t agree on forming a coalition in December. Now the parties will be forced back to the negotiating table to form a government and it will start all over again. 

After the shocking EU referendum this result already added to the negative market sentiment from Friday. Asian Stocks declined with oil, pound and euro. Gold`s reaction was subdued while the hedge funds were holding record longs in gold last week. 
(2nd Update from Tech Man)

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