EU: VdL Faces Latest No Confidence Votes 9 Oct ~12:00CET, Neither Likely To Pass

Oct-08 15:16

President of the European Commission Ursula von der Leyen faces two votes of no confidence on Thursday, 9 October. Voting will take place from ~12:00CET (06:00ET, 11:00BST). One of the motions was put forward by the right-wing populist Patriots for Europe (PfE) group, and another by the far-left The Left group. 

  • As was the case in July, neither motion is likely to succeed. In order for a no confidence motion against a Commission to pass, it needs at least a two-thirds majority of those voting, representing at least half of all MEPs. With 719 MEPs in total, this requires 360 MEPs to vote against VdL for a censure motion to pass.
  • This threshold cannot be achieved unless sections of the 'moderate' groups, the centre-right European People's Party, centre-left Socialist and Democrats or liberal centrist Renew Europe, vote in numbers against the Commission. None of these groups is willing to formally back motions put forward by the far-left or far-right.
  • In the July censure motion, 175 MEPs voted against the Commission, with 360 in favour and 18 abstentions. The remaining 167 MEPs did not vote.
  • The 360 MEPs voting in favour represented a decline from the 370 that backed the Commission in the November 2024 censure motion, and from the 401 that voted in VdL for a second term as Commission president in July 2024.
  • Another decline in the number of MEPs willing to back the Commission would not be fatal for the VdL Commission, but could further weaken its position amid long-running arguments over the EU's stance on issues as varied as Gaza, trade with the US, immigration, and the green agenda. 

Historical bullets

FED: US TSY 13W AUCTION: NON-COMP BIDS $2.256 BLN FROM $82.000 BLN TOTAL

Sep-08 15:15
  • US TSY 13W AUCTION: NON-COMP BIDS $2.256 BLN FROM $82.000 BLN TOTAL

FED: US TSY 26W AUCTION: NON-COMP BIDS $1.829 BLN FROM $73.000 BLN TOTAL

Sep-08 15:15
  • US TSY 26W AUCTION: NON-COMP BIDS $1.829 BLN FROM $73.000 BLN TOTAL

US STOCKS: Early Equities Roundup: Reversing Fri's Sales, Nasdaq Marks New High

Sep-08 15:06
  • Stocks are gaining early Monday, the tech-heavy Nasdaq outperforming as it climbed to a new record high in the first half. Still well off Friday's high print of 45770.20, the DJIA trades up up 81.16 points (0.18%) at 45483.85, S&P E-Minis up 24 points (0.37%) at 6513.25, Nasdaq up 166.6 points (0.8%) at 21864.93 vs. 21885.62 high.
  • Information Technology and Consumer Discretionary sector shares led gainers in the first half, semiconductor shares rebounding from better selling last week: Broadcom +4.58%, Oracle +2.84%, Synopsys +2.70%, Palantir Technologies +2.61% and NVIDIA +1.98%.
  • Consumer Discretionary sector was buoyed by: Booking Holdings +2.23%, Wynn Resorts +2.18%, Amazon.com +1.99% and DoorDash +1.75%.
  • On the flipside, Real Estate and Health Care sector shares led decliners in the first half. Investment trust shares weighed on the Real Estate sector with SBA Communications -4.44%, Crown Castle -4.19%, American Tower -4.08% and Weyerhaeuser-2.45%.
  • Meanwhile, pharmaceutical shares weighed on the Health Care sector: Moderna -3.94%, Regeneron Pharmaceuticals -3.23%, Dexcom -2.76% and CVS Health -2.32%.