All the day’s economic and financial news, as Italy’s League and Movement Five Star move towards forming a new government
- Alliance between Far-right League and anti-establishment M5S?
- Programme may include lower taxes, and earlier retirement
- Euro has risen, as European markets look calm
- President to meet with party leaders this afternoon
From Rome, our correspondent Angela Giuffrida has the latest on the Italian government talks:
Italy’s anti-establishment Five Star Movement (M5S) and its far-right partner, the League, are preparing to present their government programme to President Sergio Mattarella on Monday and name a prime minister.
Matteo Salvini, the leader of the League, and M5S counterpart Luigi Di Maio, worked over the weekend in Milan on a policy document in which they are expected to take a tougher approach towards illegal immigration and the EU.
Italy’s stock market has dropped a little further into the red, as traders in Milan brace to learn who their next prime minister might be.
Despite the gains made in Asia, European markets started off on a cautious tone as increasing global tensions played a part in the decline.
With Italy struggling to form a government and the UK government facing internal struggles to cope with Brexit, banking and technology pulled Stoxx Europe 600 lower over the sentiment.”