LONDON (Reuters) – Italy’s stocks are ending August on a high after the formation of a new coalition government, while Britain’s equity market is heading for one of its worst months since before it voted to leave the European Union more than three years ago.
Milan’s blue-chip index hit its highest since Aug. 1 on Thursday as investors welcomed news that two former feuding parties, the 5-Star Movement and opposition Democratic Party (PD), agreed to form a government.
Pact - Chapter - Drama - Italy - Markets
The pact ended a chapter of the latest political drama to grip Italy’s financial markets, averted a snap election and reduced the chances of another budget showdown with Brussels.
Hopes of a deal had spurred a 4% rise in the Milan index over the past week, making it the best performing major international bourse. It is on track for a 0.3% drop for the month.
Bourses - Germany - France - CAC - Spain
That’s significantly better than other major European bourses including Germany , France CAC and Spain as well as the S&P 500 and Japan’s Nikkei...
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