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European shares higher after Italian Prime Minister's resignation

2019-08-21 08:46 am | Resource: News | No Views : 24

European shares higher after Italian Prime Minister's resignation

European markets opened higher on Wednesday, with growing political uncertainty on the continent. Investors are paying close attention to Italy as Prime Minister Giuseppe Conte resigned on Tuesday

The Brexit remained at the center of attention 71 days ago until the UK was supposed to leave the EU. Concerns about the future relationship eased slightly after German Chancellor Angela Merkel said the EU was ready to find a way to avoid Irish support as long as the new solution was in line with the 1998 Good Friday Agreement. Whom Prime Minister Boris Johnson do so in a letter.

Italy's Matarella confirms the resignation of Prime Minister Conte

Italian President Sergio Matarella confirmed on Tuesday evening the resignation of Prime Minister Giuseppe Conte and announced that consultations on the new government would begin tomorrow afternoon. However, the President asked the Prime Minister to remain at the head of a transitional government until the coalition formed a new government.

Interior Minister Matteo Salvini said his party would ask the president to call early elections, saying he had no intention of remaining in the current coalition. "We will ask the president to vote. We say no to Plan B." Conte announced his resignation earlier in the day amid tensions in the ruling coalition, which escalated into a no-confidence motion in his government over Matteo Salvini, the interior minister and his coalition partner.

European stock openings
  • Germany's DAX opened up 0.23%. RWE AG shares were down 1.11%
  • The FTSE 100 rose 0.06% in the first minute of trading at 09:01 am CET.
  • Meanwhile, Italy's FTSE MIB rose 0.33% at 09:06 CET.
  • The CAC 40 rose 0.44% at 09:02 CET.

The euro fell 0.10%, to 1.10888 against the dollar at 9:04 CET. The pound lost 0.29% compared to the US currency as it rose 1.21362 at 9:05 CET.


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