By  on March 5, 2018

MILAN — Voters in Italy on Sunday sent a clear message: Let’s turn a new leaf. But the ensuing political shake-up — and the risk of a hung parliament — didn’t faze the Italian stock market or luxury fashion shares, which mainly closed up at the end of trading here on Monday.

The antiestablishment Five Star Movement and the Northern League emerged as the winners of the general elections, elbowing out former Prime Ministers Silvio Berlusconi and Matteo Renzi of the Forza Italia and Democratic parties, respectively. However, since no political party has reached a 40 percent stake — which would mean a majority to form the two houses of parliament, the Chamber of Deputies and the Senate — the elections remained in a political gridlock.

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