Tuesday 29 May 2018

Italian stocks plunge amid political turmoil

Markets were mixed on Monday.

The STOXX Europe 600 fell 0.3 but the Nikkei 225 rose 0.1 percent.

The US and UK markets were closed for holidays.

European stocks were dragged down by a 2.1 percent plunge in the FTSE MIB after Italian President Sergio Mattarella asked former International Monetary Fund official Carlo Cottarelli to try to form a new government.

On Sunday, Mattarella had blocked the ascent to power of a government supported by the maverick 5 Star Movement and the hard-right League after they proposed a euroskeptic figure as economy minister.

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