Antonio Ruggeri (pictured), portfolio manager at Syz Asset Management, looks at the impact on markets of the latest Italian referendum that has seen the rejection by Italian voters of a constitutional reform. Last Sunday, 60% of Italian voters rejected the constitutional reform proposed by the government lead by Matteo Renzi. The result was already clear […]
Europe’s stock markets recovered some of their initial declines and the euro also recovered from its early losses on Monday, as investors shrugged off the Italian voters’ rejection of constitutional reforms put to them by their prime minister, Matteo Renzi. As he said he would, Renzi resigned as soon as the fact of the “no” […]
In the wake of Italy’s referendum that saw encumbent prime minister Matteo Renzi resign after losing the argument for constitutional change, a number of equity and fixed income managers have issued a mix of messages both warning of the outcome for markets, but also that the near term reaction may not portend the longer term […]
News that Italy’s prime minister Matteo Renzi is to resign following his loss in the referendum on 4 December, is being treated as a possible trigger for another European banking crisis, according to analysis from Nordic sources this morning. Sweden’s biggest business daily Dagens Industri cites Robert Bergqvist, chief economist at SEB, who noted that […]
Two things have been a consistent theme throughout 2016: Fed hikes and political surprises; the US elections and the UK referendum on Brexit being prime examples. It’s therefore fitting that as the year approaches its end, one Fed meeting and one referendum remain. The Fed meets on 14 December, but before that, this Sunday, we […]
Italy’s UniCredit has offered to buy back €1.8bn that can no longer be counted towards the bank’s Tier 2 capital. “The tender offer […] will allow the offeror to optimise the profile of its liabilities, repurchasing the existing notes that no longer qualify as Tier 2 instruments in the own funds of the offeror and are […]
Stuart Mitchell of S. W. Mitchell Capital and fund manager of the St. James’s Place Continental European, and joint manager of Greater European and Greater European Progressive, comments on the Greek bailout saga. The Greek saga rumbled on as the beleaguered country agreed terms to receive up to €85bn in loans over the next three years, […]
Italy’s economy minister Pier Carlo Padoan told Il Corriere della Sera that the Italian government could lower its growth forecasts soon. Before Italy fell back into recession, the Italian government currently predicts that GDP will rise by 0.8% this year. Pier Carlo Padoan told the Corriere della Sera newspaper that: “We must revise the GDP growth […]
At the beginning of July, the Italian national institute of statistics (Istat) said that the country’s recovery was slower than expected. Just a few days after, the news came out announcing that the country’s GDP shrunk by 0.2% in Q2 with respect to Q1 in 2014. Overall, household and business surveys provided a mixed picture, […]
Italy’s recently appointed centre-left prime minister, Matteo Renzi, has begun to provide some of the details of his ambitious package of stimulus measures to address the structural issues in the Italian economy, Maria Paola Toschi, Global Market Strategist, J.P. Morgan Asset Management
Giordano Lombardo, Group CI at Pioneer Investments, comments on the newly appointed Italian PM, ex-mayor of Florence Matteo Renzi.
Italian government bonds rose with those of Spain and Portugal before current mayor of Florence Matteo Renzi meets president Napolitano to be sworn in as new PM.