Italy's political turmoil push European shares lower
(For a live blog on European stocks, type LIVE/ in an Eikon news window)
Aug 9 (Reuters) - European shares fell on Friday, leading them to post a second straight week of losses, as worries about the stability of Italy's government rattled investors and concerns about Sino-U.S. trade tensions lingered.
Milan's FTMIB index .FTMIB tumbled 1.6% with Italian banks .FTIT8300 hardest hit after the leader of the ruling League party, Matteo Salvini, pulled his support for the country's governing coalition on Thursday.
Markets have recently been sensitive to political developments in Rome with Italian bond yields jumping each time there were doubts about the soundness of the government.
The pan-European STOXX 600 index .STOXX fell 0.2% after recording its best day in almost two months on Thursday, following upbeat trade data from China and a steadying of its currency.
Also weighing on risk appetite was a Bloomberg report, which said that Washington is delaying a decision about licenses for U.S. firms to restart trade with Huawei Technologies HWT.UL , making investors nervous about a ramp-up of bickering in the ongoing trade dispute.
Helping to limit losses on the benchmark was the healthcare sector .SXDP , boosted by Novo Nordisk NOVOb.CO , which beat quarterly operating profit forecasts and raised its 2019 sales outlook.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or