No need to intervene in Italy crisis — European Central Bank sources

No need to intervene in Italy crisis — European Central Bank sources

No need to intervene in Italy crisis — European Central Bank sources

European stock markets are seeing red in response to the continuing political drama in Italy, as efforts continue to form a government. Hong Kong's Hang Seng index fell 0.9 percent to 30,519.29.

Savona denied that the new government would seek to dump the euro.

The Milan stock index was down almost 3 percent, weighing particularly hard on banks, and Italian bonds suffered a plunge reminiscent of the worst days of the financial crisis of 2011.

In Spain, center-right Prime Minister Mariano Rajoy faces a no-confidence vote on Friday, which will follow a debate about whether socialist leader Pedro Sánchez should replace him.

Shares were mostly higher in Asia on Monday as investors digested the latest developments regarding North Korea and Italian politics.

Makeup and pig's blood: Reporter describes his faked slaying
At a news conference , Babchenko himself wasn't clear on why the security services thought the elaborate deception was necessary. It is alleged he was hired by Russian security forces to find hitmen to assassinate Mr Babchenko.


Elsewhere shares in Deutsche Bank climbed 1.8 percent higher following a drop of more than 7 percent in the previous session, after a report that the U.S. Federal Reserve past year designated the bank's U.S. operations to be in "troubled condition".

But the wild card for policy makers is Italy, where President Sergio Mattarella on Sunday blocked the formation of a euroskeptic government, prompting a jump in government borrowing costs and a weakening of the euro. The parties will likely keep negotiating, and contentious talks between the US and China are due to resume during the weekend. Analysts said that while this could be due to seasonal factors, including an unusually high number of public holidays in May, it pointed to a tightening jobs market, which was also confirmed by data.

Sentiment lifts on hopes of U.S. The European Union was set to tax bourbon whiskey and Harley Davidson motorcycles. USA markets were closed Monday for a holiday.

"In the short term, the immediate economic impact (of tariffs) may well be limited as we've known these have been coming for some time, which may have given companies time to build up some inventory", wrote Michael Hewson, chief markets analyst at CMC Markets in a note to clients.

Andreeva said: "There are words and there are facts and we prefer to focus on the facts, which in this case speak much louder than words". The S&P 500 index slid 0.2 percent to 2,721.33.

Gourvennec, ça se confirme — Nantes
Il souhaitait, de plus, s'engager pour trois saisons alors que la direction du FCN ne lui proposait que deux ans. Annoncé tout proche de signer au FC Nantes , Jocelyn Gourvennec avait vu sa piste prendre du plomb dans l'aile.


Elior Group shares jumped over 6 percent after Credit Suisse upgraded its rating on the stock. JPMorgan Chase lost 1.4 percent to $109.07 and Bank of America fell 1.3 percent to $29.76. The Nasdaq composite climbed 0.1 percent to 7,433.85. Both currencies fell on Thursday after the USA decision to impose tariffs.

The Japanese Yen caused the Topix Index to fall for the seventh straight session, the longest such streak since September 2016.

The core inflation, which excludes the volatile energy and food prices, recorded at 1.1 percent, compared with 0.7 percent in the previous month.

ENERGY: Benchmark U.S. crude fell 1.1 percent to $67.13 a barrel in NY. The spread between Brent crude oil futures contracts and U.S. WTI stood at its widest for three years.

Pres. Trump announces summit with N. Korea back on
Experts agree that a meeting between Kim and Trump would legitimize a pariah nation and grant North Korea a long-term wish. By the next day, he was signaling the event could be back on after a conciliatory response from North Korea.


Latest News