26.05.201405:18:46UTC+00Italy Leads Euro Increase

Italy's FTSE MIB outperforms other European stocks as Europe welcomes the new European Parliament. Investors brushed off the French anti-immigration National Front Party victory in European parliament elections and instead looked at the brighter side that majority of seats will be given to supporters of the European Union.

European equities appreciated on Monday as Italy's FTSE MIB increased 2.4%, surpassing all other major European indexes. Germany's DAX, meanwhile, also rose to 9,834.36 points. This was a new record high for the index before it settled back to 9,828.41. France's CAC-40 also weighed in on positive territory with a 0.2% increase.

70% of the EU legislature that 751-seatwill be controlled by the pro-European center-left and center-right parties as shown by the initial outcome from the 28-nation bloc.

The European Parliament will, however, see a relevant increase in Eurosceptic members as the triumphs of eurosceptic nationalists in France and Britain abound in what was believed a s protest vote against austerity and unemployment.

Prime Minister Matteo Renzi's center-left Democratic Party is anticipated to win in the European Parliamentary elections which yielded a fall on Italian bonds on Monday.