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Aug. 27, 2019, 7:36 a.m. EDT

Italy outperforms Europe stocks on coalition hopes

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By Steve Goldstein, MarketWatch


Getty Images
Italian political advisor of the M5S Five Star political movement, Davide Casaleggio (C) and Italys Justice Minister Alfonso Bonafede face reporters as they leave following a meeting of the M5S movement on August 26, 2019 in Rome.

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

The Italy FTSE MIB /zigman2/quotes/210598024/delayed IT:I945 -0.31%  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 /zigman2/quotes/210597999/delayed DX:DAX -0.16%  rose 0.38% to 11701.99 and the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.22%  gained 0.18% to 5360.40.

The U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.33%  declined 0.21% to 7080.23 after a three-day break.

After a 269-point advance for the Dow industrials /zigman2/quotes/210598065/realtime DJIA -0.20%   on Monday, U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +0.10%  were a bit higher.

Focus stocks

Deutsche Boerse /zigman2/quotes/205502669/delayed DE:DB1 -1.30%   shares fell 1.9% as the exchange operator revealed a tax probe.

Insulation maker Rockwool International /zigman2/quotes/200482992/delayed DK:ROCK.B -3.97%  dropped 4%, extending losses after cutting guidance.

Airport operator Flughafen Zurich /zigman2/quotes/208931828/delayed CH:FHZN -0.56%  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.

/zigman2/quotes/210598024/delayed
IT : Borsa Italiana
23,279.78
-72.00 -0.31%
Volume: 0.00
Nov. 21, 2019 5:36p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,137.70
-20.44 -0.16%
Volume: 74,515
Nov. 21, 2019 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,881.21
-12.82 -0.22%
Volume: 76,235
Nov. 21, 2019 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,238.55
-23.94 -0.33%
Volume: 0.00
Nov. 21, 2019 4:59p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,766.29
-54.80 -0.20%
Volume: 232.02M
Nov. 21, 2019 4:58p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 3,107.00
+3.10 +0.10%
Volume: 36,475
Nov. 21, 2019 9:16p
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/zigman2/quotes/205502669/delayed
DE : Germany: Frankfurt
136.20
-1.80 -1.30%
Volume: 191.00
Nov. 21, 2019 8:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€555,390
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/zigman2/quotes/200482992/delayed
DK : Denmark: OMX
kr. 1,380.00
-57.00 -3.97%
Volume: 72,026
Nov. 21, 2019 4:59p
P/E Ratio
14.59
Dividend Yield
2.17%
Market Cap
kr.30.73 billion
Rev. per Employee
kr.1.73M
loading...
/zigman2/quotes/208931828/delayed
CH : Switzerland: SWX
CHF 176.10
-1.00 -0.56%
Volume: 74,161
Nov. 21, 2019 5:30p
P/E Ratio
18.22
Dividend Yield
3.92%
Market Cap
CHF5.44 billion
Rev. per Employee
CHF567,091
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Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.

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