Reuters: US Dollar Report: Italy shares plunge on Monti's early departure

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Italy shares plunge on Monti's early departure Dec 10th 2012, 08:14 MILAN | Mon Dec 10, 2012 3:14am EST MILAN Dec 10 (Reuters) - Italian shares fell nearly 2.5 percent in early trade on Monday on the back of a decision by Prime Minister Mario Monti to resign as soon as the country's budget law is approved. Monti's unexpected move will likely bring forward to February a general election due early next year. The main Milan FTSE MIB share index was down 2.3 percent at 0807 GMT, underperforming other European stock markets. Italian borrowing costs had also jumped higher on Monday following Monti's announcement. "Italy had gained credibility thanks to Monti's reputation," said Marco Sturlese, a fund manager at Fenice. "The first market reaction is justified by uncertainty on what will happen in the near future."

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions