Italy accelerates austerity vote

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

Italy's parliament is speeding up to approve austerity measures to reduce national debt and fulfill the requirements of EU counterparties. Government is going to vote on a set of measures containing increase in pension age and sales of assets. According to Angelino Alfano, People of Liberty's secretary, the parliament is to vote tomorrow and Berlusconi will step down immediately.

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Thu, 10 Nov 2011 13:10:25 GMT

Euro appreciates and Italian bonds climb ahead of auction.

The euro appreciated against its major peers as ECB purchased Italy's bonds before auction Shared currency gained 0.4% against US dollar reaching $1.3599 in London morning trading session. 10-year yield on Italian bonds decreased 0.15%, while Stoxx Europe 600 Index surged 0.6%. Standard & Poor's 500 Index futures climbed 1.2%. US stock futures and crude advanced.  

Thu, 10 Nov 2011 14:10:00 GMT

Asian stocks plummet on Italian yields

Asia stock markets descended on Thursday as Italian borrowing rates skyrocketed, rising concerns about the euro area debt crisis. Japan's Nikkei Stock Average lost 2.8%, South Korea's Kospi plunged 3.9% and Hong Kong's Hang Seng Index dropped 4.5%. China's Shanghai Composite gave up 1.1% and Australia's S&P/ASX 200 index fell 2.8%.

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