Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Berlusconi's Vow Puts Fear in Europe's Investors reports ACE Penny Stock Picks  Join our daily free Newsletter

MENAFN Press - 11/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN Press) (EMAILWIRE.COM, February 11, 2013 ) San Francisco, CA --

There are worries beginning to bubble up regarding the political situation in Italy, which has in turn created a wave of concern across European markets.

The concern revolves around the popularity of former Prime Minister Silvio Berlusconi, which has stoked fears of financial chaos within the country. Investors are staying on the sidelines ahead of the European Central Bank's monetary policy meeting on Tuesday.

The Stoxx Europe 600 index fell 0.4% to close at 284.52, following the putting in what was the best performance in the new year the day prior.

There are clearly concerns that Berlusconi is going to be a big player in the election and markets are worried that it would be perceived as bad for the Italian economy, said Peter Dixon, strategist at Commerzbank.

There is certainly a risk that he will end austerity measures, and I think the market will view that as a negative. Investors are starting to display that nervousness and it's likely to continue until the election, he added.

The FTSE MIB stock index also fell with a -0.7% showing on the day, falling to 16,602.85, while shares of UniCredit sagged by 1.7% and Intesa Sanpaolo was off 1.6% by the close of the day.

Italian benchmark fell 4.5% after Berlusconi promised to reduce the taxes in the event of his coalition winning on the late-February election. This vow fueled severe concerns that Italy will diverge from the current drive to reform the currency moves that put Greece, Spain, and Italy alike, in dire financial situations.

The former prime minister has recently narrowed the gap on Pier Luigi Bersani to less than 4% in the polls, according to Bloomberg. This is a troubling trend for investors, as Bersani was leading by 14% at the start of the year.


About ACE Penny Stock Picks
ACE Penny Stock Picks (http://acepennystockpicks.com/) provides customers with quality information and articles on how to be successful in penny stocks. Read about the company and learn about why you should consider trading in the high-returns world of penny stocks.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help