The political gridlock is really good news for mining companies the controversial mining tax Australia looked to enact could be in jeopardy.
Both major parties will need to negotiate with lawmakers to pass legislation as neither party controls enough seats to form a government
According to benzinga there are three ETFs that could benefit from the news.
- The iShares MSCI Australia Index Fund (NYSE: EWA)
- The iShares S&P Global Materials ETF (NSYE: MXI)
- The IQ Australia Small Cap ETF (NYSE: KROO)
