• Home
  • Multi-Asset
  •  
    Retirement
    • Pensions
    • Income
    • Investment
    • Regulation
    • Estate planning
    • Equity release
  •  
    Your profession
    • Adviser tips
    • Business models
    • Companies
    • People
  • Regulation
  • Tax planning
  • Protection
  • Diversity
  • Events
  • Whitepapers
  • Industry blogs
  • EM and Asia spotlight
  • Newsletters
  • ESG spotlight
  • Sign in
  • Events
    • Upcoming events
      event logo
      Professional Adviser's Working Lunches in partnership with Orbis Investments - 2019

      Join us in March for the Professional Adviser Working Lunch series in partnership with Orbis Investments.

      • Date: 05 Mar 2019
      • Knutsford, Leeds, Surrey, Bristol
      event logo
      Professional Adviser Working Lunches 2019 - Baillie Gifford & First State Investments

      Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

      • Date: 13 Mar 2019
      • Southhampton, Worcester, Durham, Norwich, Liverpool, Exeter, Sheffield, Leicester, Nottingham
      event logo
      Professional Adviser 360 2019

      The highly anticipated Professional Adviser 360 conference is taking place on 25th April 2019 at The Brewery in London.

      • Date: 25 Apr 2019
      • The Brewery Chiswell Street London EC1Y 4SD, London
      event logo
      Fund Manager of the Year Awards 2019

      The 2019 Fund Manager of the Year returns on Thursday 27th June 2019, Grosvenor House Hotel, London. Save the date.

      • Date: 27 Jun 2019
      • Grosvenor House Hotel 86-90 Park Lane Mayfair London W1K 7TN, London
      View all events
      Follow our events

      Sign up to receive email alerts about our events

      Sign up
  • Whitepapers
    • Find whitepapers
      Search by title or subject area
      View all whitepapers
  • Sign in
  •  
    •  

      Personalise your on site experience

      Download and use the apps

      Access your subscription from outside of the office

      Get relevant news and insight straight to your inbox

      Sign in
     
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
    • YouTube
  • Register
  • Industry blogs
  • EM and Asia spotlight
  • ESG spotlight
Professional Adviser
Professional Adviser
  • Home
  • Multi-Asset
  • Retirement
  • Your profession
  • Regulation
  • Tax planning
  • Protection
  • Diversity
 
  •  

    Personalise your on site experience

    Download and use the apps

    Access your subscription from outside of the office

    Get relevant news and insight straight to your inbox

    Sign in
 
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Professional Adviser
  • Economics / Markets

Eurozone fears reignite on Italian election shock

Italian flag
  • Anna Fedorova
  • 26 February 2013
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
0 Comments

European bond and stock markets saw a sharp sell-off on Monday after a shock result from the Italian election, where no political group managed to win a majority vote.

While the centre-left coalition led by Pier Luigi Bersani won the lower house, the party did not gain a majority vote in the upper house necessary for an overall victory.

Meanwhile, the Five Star protest movement of comedian Beppe Grillo emerged as the strongest party in the country and Silvio Berlusconi's centre right bloc threatened to challenge the close tally.

Related articles

  • Three things your clients may call you about this week …
  • Janus Henderson adjusts pricing approach on £2.8bn Property fund
  • 'Broken platform market' exposed by data from the lang cat
  • SJP directed to waive client's exit fees after 'catalogue of errors'
  • Vicki Bakhshi: Five responsible investment themes to watch in 2019

The result will see the country face a political stalemate as competing parties attempt to form a functioning government.

As the results of the election appeared to offer no end to the eurozone crisis, investors were quick to sell off their European holdings.

The yield spread on ten-year Italian bonds over German bunds jumped 30 basis points to 290 in late trading.

Italy's FTSE MIB index nosedived from its high point of 16,871 at 15.32 CET yesterday to close at 16,352 yesterday.

This morning saw futures for the Euro STOXX 50 fall 3.1%, according to Reuters, signalling a sharply lower open for the European markets.

The euro also fell to an almost seven-week low against the dollar to $1.3042 in Asian trading on Tuesday; its lowest point since January.

In the US, the S&P 500 fell 1.83% to finish the day at 1,488, marking its worst decline since 7 November, as the divided result in Italy and the potential for US budget cuts weighed on sentiment.

However, the FTSE shrugged off Moody's downgrade to finish yesterday's trading 1.01% higher at 6,355.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Economics / Markets
  • Italy
  • eurozone

More news

Glasses
  • Your profession
Three things your clients may call you about this week …

What made financial headlines over the weekend?

  • 17 February 2019
Janus Henderson amends pricing of property funds
  • Property Investment
Janus Henderson adjusts pricing approach on £2.8bn Property fund

To promote 'long-term investment'

  • 15 February 2019
  • Wrap/platforms
'Broken platform market' exposed by data from the lang cat

Switching 'hard and expensive'

  • 15 February 2019
  • Your profession
SJP directed to waive client's exit fees after 'catalogue of errors'

Ombudsman decision

  • 15 February 2019
There might be smaller, more nimble funds performing better than larger ones in the IA universe
  • Investment
How much does fund size matter?

Smaller funds still packing a punch

  • 15 February 2019
Back to Top

Most read

SJP directed to waive client's exit fees after 'catalogue of errors'
FCA
New claims rules leave advisers open to FCA sanction, warns solicitor
'Broken platform market' exposed by data from the lang cat
Joined arrow
Schroders-Lloyds tie-up to provoke 'war for advice talent'
Glasses
Three things your clients may call you about this week …
  • About Us
  • Contact Us
  • Marketing solutions
  • Terms and conditions
  • Privacy and Cookie policy
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017