FRA approves establishment of five new firms for investment fund management, SME financing    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's Environment Minister attends AMCEN conference in Nairobi    Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation    Egyptian, Belarusian officials discuss drug registration, market access    Egypt's ARC, Italy's AICS sign deal to boost wheat production    Gold prices edge higher on July 16th    Egypt stocks hit record highs in 2025 as reforms fuel rally: Cabinet    Egypt condemns Israeli strikes on Lebanon, Syria    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico explore joint action on environment, sustainability    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM urges BRICS to prioritise peace    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European markets to open lower amid political uncertainty in Italy
Published in Amwal Al Ghad on 10 - 10 - 2018

European markets are expected to open slightly lower Wednesday morning, as investors digest the latest political developments in Italy.
Britain's FTSE 100 was seen trading 16 points lower at 7,222, Germany's DAX down 14 points at 11,967, the French CAC off by 6 points at 5,314 and the Italian FTSE MIB 33 points lower at 19,970, according to IG index data.
Over in Asia, stocks followed the mixed sentiment on Wall Street, struggling to find direction amid fears over global economic growth. In the U.S., investors have been anxiously watching the debt markets, concerned by surging interest rates. However, bond yields were seen paring gains overnight, with U.S. 10-year and 30-year Treasury yields coming off multi-year highs.
President Donald Trump once again attacked the Federal Reserve on Tuesday, saying he did not think the central bank should run rates too hot and that the U.S. should be cautious not to slow down the economy when inflation is minimal.
Back in Europe, traders are keeping an eye on political goings-on in Italy, as fears linger of a standoff between Rome and the European Union over the country's 2019 budget.
Giovanni Tria, Italy's finance minister, promised on Tuesday the government would do what is necessary to restore calm if market jitters turn into a crisis. However, Deputy Prime Ministers Luigi Di Maio and Matteo Salvini said that same day stood their ground on the country's budget and deficit plans.
Elsewhere, Brexit continues to be an area of focus for the market, as the U.K. government faces pressure to reach a divorce deal with the European Union before the end of the year. Britain's Society of Motor Manufacturers and Traders, a trade body representing the automotive sector, launched a contingency plan called the “Brexit Readiness Program” on Wednesday, aimed at protecting the industry's supply chain.
In corporate news, U.S. cable giant Comcast's $40 billion offer for British broadcaster Sky is now unconditional, the firm said Tuesday, after having acquired 77 percent of Sky's shares.
And on the data front, U.K. balance of trade, GDP and production figures for August are due to be released Wednesday morning, as well as August industrial production numbers from France.
Source: CNBC


Clic here to read the story from its source.