Italian stocks get no reprieve as Di Maio hints at online referendum

Closing changes fro the main European bourses:

  • UK FTSE +0.3%
  • German DAX +0.2%
  • French CAC +0.2%
  • Italy MIB -2.3%
  • Spain IBEX -1.0%

10-year yield changes:

  • UK -1bps to 1.51%
  • Germany -3 bps to 0.61%
  • France -1 nps to 0.85%
  • Italy +16 bps to 2.11%
  • Spain +5 bps to 1.41%

We’re still waiting on the joint program from 5-Star and League. Comments from a League official suggest an earlier leak saying the ECB will forgive Italian debt won’t be in the final program. That triggered a brief bounce to Italian stocks nit they’ve since slumped back close to the lows.

The latest headlines say it won’t be until the weekend that the joint program is released. Di Maio also says he will call for an online referendum on the contract.

MIB daily:

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