Despite what should have been a slow start to a fresh week, markets were buoyed on Monday over news that Fiat Chrysler has proposed a merger with Renault. Markets have taken this news positively, with both companies’ shares trading higher, pulling European stock markets higher too.

The Deputy PM of Italy, Matteo Salvini, expressed optimism from the government’s perspective at a news conference a little while ago. He stated, “Fiat Chrysler expanding is good news for Italy … I count on it being a brilliant operation that preserves every single job while creating a European car industry giant.”

Even the French government has shown a favorable reaction towards this news. Given that the French government has a 15% stake in Renault and is the company’s largest shareholder, this news is especially encouraging.