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EUROPE MARKETS: Italy Outperforms Europe Stocks On Coalition Hopes

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08/27/2019 | 07:37am EST

By Steve Goldstein, MarketWatch

Italian stocks on Tuesday gained ground, aided by hopes that a new government can be formed without an election.

The Italy FTSE MIB rose 1.14% to 20913.64.

Reports indicated that the 5-Star Movement was on the cusp of reaching a deal with the Democratic Party to form a new coalition. If an election is held instead, an automatic VAT increase is triggered.

Elsewhere in Europe, stocks turned higher. The German DAX rose 0.38% to 11701.99 and the French CAC 40 gained 0.18% to 5360.40.

The U.K. FTSE 100 declined 0.21% to 7080.23 after a three-day break.

After a 269-point advance for the Dow industrials on Monday, U.S. stock futures were a bit higher.

Focus stocks

Deutsche Boerse (DB1.XE) shares fell 1.9% as the exchange operator revealed a tax probe.

Insulation maker Rockwool International (ROCK-B.KO) dropped 4%, extending losses after cutting guidance.

Airport operator Flughafen Zurich (FHZN.EB) rose after reporting a first-half profit rise of 10% and saying its annual profit will grow 5%. It also reduced its passenger growth guidance to 2% growth from 3% growth.

Stocks mentioned in the article
ChangeLast1st jan.
CAC 40 -0.36% 6078.54 Real-time Quote.1.02%
DAX 0.17% 13548.94 Delayed Quote.2.09%
DEUTSCHE BÖRSE AG 0.10% 146.6 Delayed Quote.4.50%
EURO STOXX 50 -0.24% 3799.03 Delayed Quote.0.77%
FLUGHAFEN ZÜRICH AG 0.06% 174 Delayed Quote.-1.58%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
STOXX ITALY 45 (EUR) 0.72% 108.26 Delayed Quote.1.85%
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