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Britain’s winning the Eurovision Song Contest is likely to lead to Britain winning the stock market on Monday, according to new academic research.
A recent studyThe Winner Takes It All: Investor Sentiment and the Eurovision Song Contest, have discovered that there is an upturn in stock market trends for traders from the song nation’s winning nation.
The research, published by academics at Bar-Ilan University in Israel, found a positive change in investor sentiment in the winning country, resulting in a higher average return of 0.35 percent in the country’s markets on the first trading day after each victory since 1985.
Kim Cramer Larsson, technical analyst at Saxo Marketssaid: “Your nation winning the Eurovision Song Contest can make you perform better in the stock market.
“From a psychological perspective, this level of excitement and euphoria translates from victory to positive investor sentiment.
“For example, a rare victory for the UK is likely to give people across the country a much-needed boost psychologically and thus financially by making them richer in the stock market on Monday.
“It is not surprising to see these increases in the study, but it does not guarantee that it will always happen – especially with examples like this year due to the ongoing war in Ukraine.”