Friday, 5 July 2019

Italian stocks jump after reprieve from European Commission

Markets were mostly higher on Thursday.

The STOXX Europe 600 rose 0.1 percent and the Nikkei 225 rose 0.3 percent. The US stock market was closed for a holiday.

Italy's MIB rose 1.0 percent after the European Commission dropped its threat of disciplinary action against Italy on Wednesday after the latter took actions to curb its growing debt.

Investors are likely to turn their attention to the US nonfarm payrolls report next. The report is set to be released on Friday.

“If job growth falls short of expectations, the market could immediately move to pricing in a July interest rate cut,” said Kathy Lien, managing director of foreign exchange strategy at BK Asset Management.

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