Italian Prime Minister resigns

|By:, SA News Editor

Enrico Letta is stepping down after the leader of his own party - Florence Mayor Matteo Renzi - pulled his support. Since being voted as leader of the center-left Democratic Party in December, Renzi has been critical of Letta because of the slow pace of economic reform.

Letta was in power for less than 10 months, about par for post-WWII Italian governments.

Official statement

Italian stocks suffered early in the day as the resignation became likely, but closed down just 0.23%. EWI is higher on the session by 0.6%.

Other ETFs of note: ITLY, ITLT