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Nov 11, 2011

ITALY News, Nov 11, 2011



Italy Looks to New Government Led by Mario Monti
Bloomberg
11 (Bloomberg) -- Italy's Senate will vote on debt-reduction measures today in an attempt to shore up investor confidence and pave the way for a new government. David Tweed reports on Bloomberg Television's "Countdown" with Linzie Janis. ...
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Bloomberg
EU Could Face 'Deep, Prolonged Recession'
Wall Street Journal
By MATTHEW DALTON Italian bond yields came off recent euro-era highs on trader comments that the European Central Bank was buyingItalian government bonds, Liam Moloney reports on Markets Hub. Photo: AFP / Getty Images. BRUSSELS—The European Union ...
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Wall Street Journal
Euro Strengthens Versus Dollar Before Italian Vote, Greek Unity Government
Bloomberg
“With so many speculators already short euro, we're probably in for a little stability and maybe even a creep higher for the next session or two.” The 17-nation euro was still headed for its second weekly loss versus the dollar before reports next week ...
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European Stocks Climb, Snapping Two-Day Drop
Bloomberg
Telecom Italia SpA (TIT) gained the most in a month after reporting better-than-expected third-quarter earnings. Greek banks led a gauge of European lenders higher. The Stoxx Europe 600 Index increased 0.5 percent to 236.42 at 9:39 am in London, ...
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Oh By the way
FXstreet.com
In a day when oil and product prices swung wildly on the latest developments out of Europe one might have a ten-day to forget that sometimes oil inventory reports can matter. Well sometime anyway. Oil prices swung wildly being pushed and pulled in ...
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Daily Crosses Fundamental: EUR/CHF, AUD/USD, USD/CAD, NZD/USD
FXstreet.com
The losses endured on Wednesday eased after Germany denied reports saying it is considering a smaller euro area and allowing nations to drop out of the single currency. More support came from Italy which sold 12-month treasuries meeting the target ...
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Merkel Greek Strategy Risks Backfiring as Exits Route Mapped
BusinessWeek
Italy's Senate votes today on debt-reduction measures, paving the way for a new government that may be led by former European Union Competition Commissioner Mario Monti. Merkel and Sarkozy ignited speculation that the euro area could contract near ...
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Italian stocks - Factors to watch on Nov 11
Reuters
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). Italy moved closer to a national unity government on Thursday, following Greece's lead in seeking a respected veteran technocrat to ...
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The Overnight Report: Cracks Appearing
Ninemsn
Somehow the concept of America handing over billions to Italy right now via the IMF at a time when its own debt ceiling remains an issue, and elections are nigh, seems a remote one. Were there no euro (and again, we're right back where we were earlier ...
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FTSE rallies ahead of Italian austerity vote
Reuters UK
Investors will be keen on the outcome of Italy's Senate vote on Friday on austerity measures demanded by the European Union. That will come hours after US President Barack Obama ratcheted up pressure for more dramatic action as he spoke with German...
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Two-tier EU fears grow as Italy 'days from bailout'
Irish Independent
Markets went into panic last night after Standard & Poor's mistakenly sent out a report suggesting France had already lost its prized AAA rating. It was later withdrawn, but France remains under severe pressure as rumours persist that Europe is heading ...
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Irish Independent
Stocks Rally as Europe Acts on Debt Crisis
Bloomberg
11 (Bloomberg) -- Italy's Senate will vote on debt-reduction measures today in an attempt to shore up investor confidence and pave the way for a new government. David Tweed reports on Bloomberg Television's "Countdown" with Linzie Janis. ...
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Bloomberg
Eurozone anxiety weighs on TSX
Toronto Star
The market had been up more than 100 points in the early going amid reports of new leadership for debt-plagued countries Italy and Greece. Those gains disappeared following reports that France could have its credit rating placed on negative credit ...
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Insurer Allianz resilient at Q3 stage
Reuters
While Munich Re unloaded 1.4 billion euros worth of Italian sovereign bonds in the third quarter, Allianz's Baete told journalists the group has not reduced its exposure and he was confident Italy would bring its financial house in order. ...
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EU's Juncker Dismisses Talk Of Euro Zone Breaking Up -Report
Wall Street Journal
The Luxemburg prime minister also said Italy's problem is of credibility, not economic fundamentals, adding the currency bloc is doing its best to stop the spread of contagion from the debt crisis that started in Greece. "If we accept that contagion ...
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Wall Street Makes Comeback Bid
Fox Business
The European Central Bank also bought Italian bonds in a bid to keep yields down, according to reports. Still, market participants have struck a cautious tone: "Political uncertainty in Italy prevails as question marks abound around the budget," ...
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Two thirds of all errors in cohesion payments occurred in Spain, Italy, and ...
Euroalert.net
Budgets Committee at the European Parliament also discussed this report in a meeting. MEPs showed their worrying because two thirds of all errors in cohesion payments occurred in three Member States, namely Spain, Italy, and the Czech Republic (in ...
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Erroneous S&P downgrade of France called 'shocking'
Globe and Mail
Until the accidental downgrade, things had been looking up somewhat in the embattledeuro zone, though investors remain on edge. As The Globe and Mail's Eric Regulyreports, Italy pulled off a €5-billion auction, passing a test of sorts but still ...
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European Bailout Fund Finds It Difficult To Raise Capital - Report
NASDAQ
AMSTERDAM -(Dow Jones)- The European Financial Stability Facility, or EFSF, is finding it difficult to raise capital due to political uncertainties in countries such as Italyand Greece, Dutch paper Financieele Dagblad reports Friday, citing EFSF Chief ...
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Daily Strategic Report
FXstreet.com
by Gavin Grier-Rees - FX Market Report | View company's profile Sentiment bounced yesterday after Italy took steps to form a new government and Greece named a Prime Minister. Italy's new government is seen within days; led by former European ...
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China's export growth slows amid European debt crisis
Globe and Mail
Overseas sales by Chinese exporters grew at the slowest rate in almost two years last month, as shipments to Europe slowed and exports to Italy, the new centre of the debt crisis, plunged 18 per cent from a year earlier, according to customs bureau ...
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Globe and Mail
As Fiat struggles in Italy's financial storm, Chrysler makes the difference
The Detroit News
Citigroup Global Markets described Fiat's new model program as a "wilderness" in arecent report, but said it has undertaken a major product rethink after acquiring Chrysler to maximize commonality, economics of scale and plant use. ...
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The euro rampage won't stop at Rome: 'Spain is more at risk than Italy'
Daily Mail (blog)
(Meanwhile by the end of this year, Italy will have the second highest level of public sector net debt, relative to GDP, in the eurozone.) However, according to a report out yesterday from the economist Jamie Dannhauser at Lombard Street Research, ...
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Britain prepares for economic 'Armageddon' as European Union warns of UK ...
Daily Mail
Both countries dismissed the report Yesterday the ECB bought more than £200million of Italian bonds – but officials said they could do no more to help. Downing Street and the Treasury are in a state of near despair about the refusal of German ...
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Daily Mail
IMF seeks clarity in Italy, China wants stability
Reuters
Lagarde, a former French finance minister, declined to comment on a Reuters reportthat German and French officials have discussed plans for a radical overhaul of theEuropean Union to create a more integrated and potentially smaller euro zone. ...
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New Greek PM pledges euro focus
BBC News
The new PM will also face a confidence vote in parliament, which is expected to happen on Monday, Greek state TV reported. In Italy, meanwhile, there was increasing speculation that former EuropeanCommissioner Mario Monti would take over from outgoing ...
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BBC News
Major New Zealand banks report no direct exposure to any European sovereign ...
Interest.co.nz
The European sovereign debt crisis, and its real and potential impact on the New Zealand banking system through the cost and availability of debt funding, featured heavily in the Reserve Bank's latest Financial Stability Report. ...
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The Global Note: Italy, “Hurry Up!”…Catcher Kidnapped In Venezuela…Russian ...
ABC News (blog)
As the European Union warns the bloc could fall back into a recession, the Telegraph is among outlets reporting Germany and France have discussed plans to radically overhaul the EU, eliminating some countries so the rest can focus on deeper economic...
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EUROPEAN OPENING NEWS INCLUDING: Japan may be secretly intervening in FX ...
Proactive Investors UK
JGBs dipped overnight as worries about Italy eased somewhat with the country moving closer to a unity government. JGBs were trading at 142.87 (-0.05) at 0600GMT. (RTRS) The ECB and the BoJ borrowed dollars from the Fed in the latest week, ...
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Singapore Stocks-May open highher; Genting, Noble in focus
Reuters
SINGAPORE, Nov 11 (Reuters) - Singapore shares may open higher on Friday after brighter corporate news lifted US stocks and debt-ladened Italy was able to fund itself at a bond auction. Casino operator Genting Singapore may be in focus after reporting ...
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The World Next Week: Eurozone Crisis Grows, IAEA Reports, Myanmar Surprises
Council on Foreign Relations (blog)
Download the latest version here. You also need to have JavaScript enabled in your browser. Anxiety about the spread of the Euro debt crisis to Italy is making international financial markets anxious. European leaders are already talking about the ...
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S.Korea-Market Factors to watch Nov 11
Reuters
($1 = 1134.250 Korean Won) Latest KR stock report Latest money report Lateststocks KR press digest KR main diary KR IPO diary Global Markets report Oil Marketsreport New York Stocks Asia stock outlook Emerging markets report (Reporting by Tae-Yi Kim; ...
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Nikkei extends losses, Europe fears persist
Reuters
But the decline was slight after German Chancellor Angela Merkel rejected on Thursday the idea that her government might favour a smaller euro zone and Italy moved closer to national unity government. The Italian Treasury managed to sell 1-year bills ...
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Yen Gains Versus Most Peers as Europe Crisis Dents Global Growth Outlook
Bloomberg
It traded at 105.57 against the euro from 105.66, set for a 2.1 percent climb this week. The euro traded at $1.3616 from $1.3606 yesterday and $1.3792 last week. Italy's 10-year government bond yield soared to as high as 7.48 percent on Nov. 9. ...
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Slovenian Bonds 'Victim' of Italian Turmoil, Dybula Says
BusinessWeek
Slovenia's public debt will surge to 45.5 percent of GDP by year's end, which compares with Spain's 69.6 percent and Italy's 120.5 percent, the European Commission reportshows. The government aims to cut the deficit to 4.6 percent of total output, ...
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Gold futures follow euro's fall as dollar gains
Daniels Trading
Thursday is likely to see gold futures slide in response to Italy's debt plight tugging theeuro down and pushing up the US dollar, Bloomberg reports. The previous two days of trading have seen the dollar increase 1.5 percent in value while the ...
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Stock Market News for November 10, 2011
Zacks.com
As for Italy, reports hinted that European Union officials said they do not have any plan ready to rescue the nation, although rumors among analysts suggested that an ECB meeting is scheduled to decide on aggressively buying more Italian bonds. ...
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Are markets finally heading in the right direction?
Christian Science Monitor
The Telegraph reports that the aging politician spent the night with Francesca Pascale, 26. The woman is an angel, for sure…descending from the heavens to succor the embattled Italian prime minister in his hour of need. But let's not get distracted by ...
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Christian Science Monitor
Treasurys turn down on Italy reports
Reports said Berlusconi told Italy's president that he will resign after ... Read about Treasury bonds, Italian yields. “Tuesday's European headlines will ...
www.marketwatch.com/.../treasurys-turn-lower-italy-auction-i...
Euro gains on reports Italy's PM to leave
By William L. Watts and Deborah Levine, MarketWatch NEW YORK (MarketWatch) — The US dollar fell against the euro on Tuesday following reports saying Italian ...
www.marketwatch.com/.../euro-holds-range-ahead-of-italy-vo...
Euro, Treasurys turn on reports about Italy's PM | HEADLINE NEWS ...
NEW YORK (MarketWatch) - The euro set new highs for the session and Treasury prices gave up gains in ... Euro, Treasurys turn on reports about Italy's PM ...
www.headlinenewsonline.com/.../euro-treasurys-turn-on-repor...
Euro gains on reports Italy's PM to leave - Currencies - MarketWatch
The euro gains after reports that Italian Prime Minister Silvio Berlusconi plans to resign once the country's 2012 budget is approved.
www.marketwatch.com/.../euro-holds-range-ahead-of-italy-vo...
Mid-Day Report: Euro Lower as Italian Yield Jumps, Swiss Fall after ...
Italian 10 year yield jumped to new Euro-era high of 6.67% today so far. ... CurrencyReport, FX Newsletter, Pivot Points, Forex Portal, RSS EUR/USD ... expect strong resistance at 1.2472 to limit upside to extend recent sideway consolidation. ...
www.actionforex.com/.../mid-day-report:-euro-lower-as-italia...
Euro Rises on Reports Italy's Berlusconi to Resign - US Business ...
The euro rose against the dollar on Tuesday after Italian Prime Minister Silvio Berlusconi said he will resign after the new budget law is approved, but the rally ...
www.cnbc.com/.../Euro_Rises_on_Reports_Italy_s_Berlusconi...
Italy debt costs ease, but French fears - RTÉ News
Record rates of over 6% in latest Italian bond auction ... today, with traders reportingthat the European Central Bank was back in the market buying bonds. ...
www.rte.ie/news/2011/1110/italy-business.html
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