S&P Revise Italy’s Outlook to Stable from Positive Rating

S&P Global Ratings agency said on Tuesday it had revised its outlook on its BBB/A-2 ratings on Italy to stable from positive. The change reflects impact of the global effect on Italy’s economy and on sovereign’s fiscal position. The Italian Prime Minister Draghi resigned last week and there will be new elections later in the year. The ratings agency affirmed all of its sovereign ratings on the country and said the stable outlook balances rising risks to the economy and … Continue reading “S&P Revise Italy’s Outlook to Stable from Positive Rating”

Italy’s FTSE MIB Borsa Italiana Closed Up 23% in 2021

The Italian Blue Chip stock index, the FTSE MIB closed unchanged at 27,346.83 on the last trading day of the year, up 23% for 2021. It was the second sharpest yearly rise since 2009, after falling 5.4% to 22,233 in 2020. The index is well off the nearly eight-year low of 14,153 from the height of the Covid panic.    The FTSE MIB closed 2021 at 27,346.83 up 23% on the year in the second steepest yearly increase for the … Continue reading “Italy’s FTSE MIB Borsa Italiana Closed Up 23% in 2021”

Italy’s FTSE MIB Borsa Italiana Closed Down 5.4% in 2020 Among Lockdown Nerves

The Italian Blue Chip stock index the FTSE MIB fell 5.4% to 22,233 in 2020 bouncing back from lows in March after Italy was the first western country to implement a national lockdown, Italy’s FTSE MIB index crashed to a nearly eight-year low of 14,153.  Concerns about the impact of current restrictive measures on Italy’s fragile economy overhang sentiment.

Italian Debt More Than Twice EU limit, Risk EU Imposes $4 Billion Penalty

Right on the heels of Matteo Salvini’s Lega party winning over 30% in the European elections sources say the European Commission is considering proposing a 3.5 billion-euro ($4 billion) penalty on Italy over its failure to reduce debt per EU budget rules.

Resiliant European Service Sector Contrasts With Weak Manufacturing Output

The European services sector strength contrasts with weak manufacturing conditions. Growth was led by Germany and Spain. Suggesting that the domestic economies aren’t as burdened by the global trade war and Brexit drama. Resilient rate of growth that has lost some momentum.

Spanish, Italian and French Banks Are Most Exposed to Turkey

The Turkish crisis escalated over the past week and has sent flight risk contagion ripples through emerging markets. The fallout extends to those that are Turkey’s biggest lenders. There are five banks most exposed with Spains BBVA the most at risk