AM Report 29 May 18: US & UK closed, Italian tensions hit global markets

US sharemarkets were closed on Monday for the Memorial Day holiday. European sharemarkets eased on Monday as investors focussed on the Italian political crisis. Fresh elections are likely after the Italian President rejected the choice of economy minister proposed by the Five-Star and League parties coalition. Italian President Sergei Mattarella appointed a former International Monetary Fund official as interim prime minister. The broad STOXX600 index fell by 0.3%, the German Dax was down by 0.6% and the Italian sharemarket fell by 2.1%. The UK market was closed for a holiday.

 

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