Risk of rebellion vs. Berlusconi lifts Italian assets off lows


  • World
  • Monday, 30 Sep 2013

LONDON (Reuters) - Italian stocks pared losses and bond yields came off the day's highs on Monday after Reuters reported senators from the centre-right party could rebel against Silvio Berlusconi if he continues to threaten to bring down the government.

As many as 20 senators from the centre-right party of Silvio Berlusconi are ready to form a breakaway group unless the former premier backs down on his hard line to bring down Italy's government and head to elections, a top member of the party told Reuters on Monday.

Italy's FTSE MIB index pared losses, with the index down 1.7 percent by 2.15 p.m. British time. Italian yields came off the day's highs but were still up 17 basis points on the day at 4.59 percent.

"This raises the likelihood Prime Minister (Enrico) Letta will be able to fashion a government from his own (party) together with disaffected members of (Berlusconi's party) and possibly also the 5-star movement were Berlusconi to withdraw his party from the ruling coalition," Rabobank strategist Richard McGuire said.

(Reporting by London Markets team)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In World

Mexican president progressing well with minor symptoms after COVID-19 diagnosis, minister says
Walmart to build more robot-filled warehouses at stores
Singapore detains teen for intending to attack mosques
Think your kid’s being bullied online? Don’t just read their messages
Australian state borders to reopen with zero local virus cases
Thais seek to restore fortunes with mock funerals
Biden polls higher in first week than Trump at any time
Rumours and fear dog Philippine plan for coronavirus vaccine drive
US scientists developing a mask sensor that detects the novel coronavirus
Report: People downloaded 218 billion mobile apps worldwide in 2020

Stories You'll Enjoy


-->