Markets rally after Italy agrees €17bn bank rescue – business live

All the day’s economic and financial news, including a TUC conference on insecure work and reaction to Italy’s €17bn taxpayer-funded bank deal

The pound has nudged a one-week high, after UK prime minister Theresa May finally secured an agreement with Northern Ireland’s DUP party.

Sterling gained almost half a cent at one stage to $1.2759, the highest since 19 June, as the City welcomed a rare piece of political certainty.

Related: £1bn Tory-DUP deal will retain pensions lock and winter fuel payments – Politics live

Over in Milan, branches of Veneto Banca and Banca Popolare di Vicenza have opened as usual today.

And there are no signs of panic. That will please Italy’s finance minister, Pier Carlo Padoan, who pledged last night that it would be business as normal, following the sale of these ‘good’ assets to Intesa SaoPaolo.

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