Mon, 11 Mar 2013 15:10:09 GMT
European stocks drop on Italy's downgrade
The Stoxx 600 Index lost 0.2% to 294.92 points in early London trading session on Monday. The index is still 5.5% up from the beginning of the year, as U.S. governors avoided the fiscal cliff, but today Fitch Ratings agency downgraded Italy's rating to BBB+. The main reason for the downgrade was recent elections and current political paralysis, which threatens