Markets love political gridlock and an opportunity to test that theory should arrive as soon as Monday as global equity bourses absorb news of an Australian election in which there is no clear-cut winner.
This is really good news for mining companies like BHP Billiton (NYSE: BHP) and Rio Tinto (NYSE: RTP) because election gridlock puts the controversial mining tax Australia looked to enact in jeopardy.
Australian Prime Minister Julia Gillard, 48, and opposition leader Tony Abbott, 52, will need to broker deals with lawmakers to pass legislation after neither major party won enough seats to