real-time news and commentary for investors
Wednesday, Oct 2
Italian stocks higher ahead of key confidence vote
- Shares in Italy are bucking a weak European trend and are +0.7%, while 10-year bond yields are -7 bps at 4.35%, ahead of a vote of confidence in the country's parliament today that could result in fresh elections.
- However, Prime Minister Enrico Letta, who is from the left-of-center Democratic Party, could receive support from 40 senators from Silvio Berlusconi's People of Freedom (PDL) group despite the former PM instructing his party to vote against the government.
- Yesterday, PDL deputy and party secretary Angelino Alfano said the party should back Letta.
- Berlusconi withdrew his support from the government over the weekend and faces a vote on Friday over whether he should be expelled from the Senate following a conviction for tax fraud.
- ETFs - Stocks: EWI. Bonds: ITLT, ITLY