European stocks climb as Italy tensions ease for now

Tuesday, 22 May 2018 23:59 WIB

Stoxx 600Saham EropaStoxx Europe 600


European stocks moved higher on Tuesday, with Italy remaining in focus as the country's president considered the candidate put forward by a euroskeptic alliance to lead their coalition government.

The Stoxx Europe 600 index rose 0.3% to end at 396.94, its highest close since Jan. 29, according to FactSet data.

Italy’s FTSE MIB index moved 0.5% higher to 23,216.57, rebounding after falling 1.5% over the previous two trading sessions. The volatile trade in Italy came as the country’s two biggest antiestablishment parties continued their push to form a governing coalition, which some fear could plunge Italy into a sovereign debt crisis.

In Germany, the DAX 30 index added 0.7% to 13,169.92. The German market was closed on Monday in observance of Whit Monday.

France’s CAC 40 index ended 0.1% higher at 5,640.10 on Tuesday, while the U.K.’s FTSE 100 index added 0.2% to score a record close at 7,877.45 .

Italian politics remained in focus after the leaders of the 5 Star Movement and League on Monday evening presented their prime minister candidate to President Sergio Mattarella. Their choice, little-known political novice and academic Giuseppe Conte, is said to concern Mattarella, and the president has yet to give Conte the go-ahead.

Source: Marketwatch


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