Banking

Market Movers Blog: UK real pay falls at fastest rate in two decades

In this live blog, Investment Week collates all the breaking market news, analysis and opinion on equity, bond and currency movements as well as the impact of coronavirus, trade wars and Brexit negotiations.

In this live blog, Investment Week collates all the breaking market news, analysis and opinion on equity, bond and currency movements as well as the impact of trade wars, tightening monetary policy and the Brexit negotiations.

Italy’s FTSE MIB was down 2.6% at market open today (Thursday 21 July), following confirmation prime minster Mario Draghi would resign.
Draghi formally announced his resignation to president Sergio Matterella on Thursday 14 July but it was initially blocked as populist Five Star Movement (M5S), Matteo Salvini’s far-right League and Silvio Berlusconi’s Forza Italia abstained from a confidence vote in the senate.
Political turmoil began after M5S snubbed a vote on a €26bn deal aimed at helping Italians tackle inflation and burdening energy costs, claiming the package did not go far enough.
The FTSE MIB fall of 2.6% to 20,797.15 was well below the European composite Stoxx 600 index, which was down just 0.4%.
Both Italian and German bond markets responded negatively, with Italy’s 10-year yield rising to its highest level since June, climbing 4bps to 3.467% while two-year yields rose 7bps to 1.427%, widening the premium over its German counterpart by 242bps.

 

//

//

Most Related Links :
todayuknews Governmental News Finance News

Source link

Back to top button