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Fears of a hung parliament grow in Italy

Italy's parliamentary election count reveals that no party has majority yet in the Senate or in the Lower House, fueling anxiety among investors on fears of a deadlock in Parliament.

With 90% of the ballots counted, in the Senate the center-left coalition Pier Luigi Bersani is leading with 27.65%, Beppe Grillo's Five Star follows with 23.76% then Berlusconi's center-right alliance with 22.16% and Monti at 9.16%.

In the lower House, Bersani takes 26.13%, Grillo 25.48%, Berlusconi 20.85% with 75% of the votes counted.

Earlier projections by the RAI indicated that none of the four main groups running in the Italian parliamentary election is likely to win a majority in the Senate as they pointed to a neck-and-neck race between Bersani's bloc and Berlusconi's alliance in the Senate.

The same projections indicated election was on track Monday to produce a nearly 3-way tie in the Chamber of Deputies between Bersani's center-left alliance, former Prime Minister Silvio Berlusconi's center-right coalition and Beppe Grillo's Five Star Movement.

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