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Monday, May 18, 2009

India shines among weaker bourses

LONDON (Reuters) - Equities in Europe and Japan fell on Monday although emerging markets got a big boost from Indian elections which raised hopes of a stable, pro-economic reform government.
The dollar strengthened slightly against major currencies after last's week four-month low.
India was a bright spot for equity investors with the benchmark 30-share BSE index .BSESN surging more than 17 percent before trading was halted for the day.
Prime Minister Manmohan Singh's coalition defied predictions of a tight election result and was only about 11 seats short of an outright majority following the vote count.
A strong Indian coalition, free of the pressures from its former communist partners, has boosted the prospect of reforms to encourage growth in Asia's third-largest economy.
http://www.reuters.com/article/hotStocksNews/idUSTRE54B01U20090518
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