Mexican peso, stocks fall as leftist wins presidency

Mexican peso, stocks fall as leftist wins presidencyThe Mexican peso and stock market both fell Monday after the country elected the anti-establishment leftist Andres Manuel Lopez Obrador as its next president. After the fiery candidate known as “AMLO” swept to a landslide victory, the Mexican stock market’s key index lost 2.12 percent, while the peso closed down 0.9 percent against the dollar. Lopez Obrador has promised radical change for Latin America’s second-largest economy — though he went to great lengths Sunday night to reassure his many critics in the business world that he would pursue market-friendly policies.

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Leftist López Obrador storms to victory in Mexican presidential election

  1. Leftist López Obrador storms to victory in Mexican presidential election
  2. Lopez Obrador: Five things in president-elect’s inbox  BBC News
  3. Violence, crime, Trump: the new Mexican president’s inbox  Yahoo News
  4. A President of Paradox for Mexico  New York Times
  5. Mexico’s AMLO Sweeps to Power in Historic Left-Wing Landslide  Bloomberg
  6. Full coverage

Source: Google News

Mexico's leftist Lopez Obrador poised for election victory as rivals concede

Mexico's leftist Lopez Obrador poised for election victory as rivals concedeMexico’s veteran leftist leader Andres Manuel Lopez Obrador appears on track to be proclaimed president, potentially by a landslide, after both his rivals admitted defeat. Jose Antonio Meade, candidate for the ruling PRI, announced shortly after the first exit polls were given, at 8pm in Mexico City, that he accepted his loss. He congratulated Mr Lopez Obrador, who according to Televisa’s exit polls has claimed between 43 and 49 per cent of the vote. Ricardo Anaya, from the PAN, conceded 45 minutes later, leaving the path clear for Mr Lopez Obrador. Mr Anaya said he had already phoned the winner to wish him well. “I recognised his triumph, I congratulated him, and I wished him success,” the 39-year-old said.  Andres Manuel Lopez Obrador: Mexico’s Jeremy Corbyn to battle ‘the mafia of power’ Outside the headquarters of Mr Lopez Obrador’s Morena party in Ciudad Juarez, the border city in the north where he launched his campaign in April, cars were honking their horns and drivers sped by waving flags, leaning out of their cars and cheering. The 64-year-old friend of Jeremy Corbyn has been the front runner from the start, but has made an extra effort to win over the sceptical northern states.  Making his third attempt at taking the presidency, he promised to defeat “the mafia of power” and usher in a new era of corruption-free rule, in which the most marginalised come first. Mexico’s presidential candidate Jose Antonio Meade for “Todos por Mexico” coalition party, gives his thumb up after casting his vote  Credit: AFP His platform includes promises to sell the presidential jet, slash his presidential salary in two, and turn the presidential palace into a cultural centre. He has campaigned with the pledge of doubling pensions for retirees, increasing scholarships for students, and boosting production and employment in the impoverished south. How he will pay for this remains unclear – his team speak vaguely of corruption reductions freeing up millions of dollars. Ricardo Anaya, presidential candidate for the National Action Party (PAN), displays an ink-stained thumb after casting his vote at a polling station in Queretaro Credit: Bloomberg And he has been remarkably unspecific in his plan for dealing with President Donald Trump, Nafta and the surging violence – only talking about rooting out the causes of organised crime, such as poverty and a lack of opportunities among the young, and floating a plan for an amnesty for cartel members. Nevertheless, his message has resonated in a country exhausted by endless corruption scandals and a failure to reduce the incessant violence. Final results are expected around 11pm local time in Mexico City (5am GMT).  

Source: Yahoo! News