Arab Today, arab today europe stocks tumble despite berlusconi resignation
Last Updated : GMT 06:51:55
Arab Today, arab today
Arab Today, arab today

Europe stocks tumble despite Berlusconi resignation

Arab Today, arab today

Arab Today, arab today Europe stocks tumble despite Berlusconi resignation

London - AFP

European stocks and the euro tumbled on Wednesday, while Italy's borrowing costs soared, despite Silvio Berlusconi's pledge to resign as leader of the third biggest eurozone economy. After rising strongly at the start of trading, European equities headed south as the yield on benchmark 10-year Italian bonds soared above 7.0 percent. "The Italian bond market is in distress this morning," said Kathleen Brooks, an analyst at traders Forex.com. "Although Berlusconi promised to resign after the passage of austerity reforms get through parliament, the bond market may be reacting to the potential for a fractious coalition government getting in to power, which could only exacerbate Italy's fiscal situation," she added. In European stock market trade, London's FTSE 100 index slid 1.11 percent to 5,506.37 points approaching midday, Frankfurt's DAX 30 slumped 1.42 percent to 5,877.46 points and in Paris the CAC 40 dropped 1.68 percent to 3,089.97 Italian stocks dived 3.20 percent after Berlusconi announced in Rome late Tuesday that he would step down once a law with reforms aimed at calming the eurozone turmoil was adopted as expected later this month. One of the biggest drags on the Italian stock market was shares in Berlusconi's Mediaset business empire, which were down around 10 percent. The euro meanwhile fell to $1.3718 from $1.3836 late in New York on Tuesday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today europe stocks tumble despite berlusconi resignation Arab Today, arab today europe stocks tumble despite berlusconi resignation

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today europe stocks tumble despite berlusconi resignation Arab Today, arab today europe stocks tumble despite berlusconi resignation

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday