Italy outperforms Europe stocks on coalition hopes

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 +1.22%  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 +1.59%  rose 0.38% to 11701.99 and the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.78%  gained 0.18% to 5360.40.

The U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.56%  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 +1.61%   on Monday, U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -0.09%  were a bit higher.

Focus stocks

Deutsche Boerse /zigman2/quotes/205502669/delayed DE:DB1 +0.40%   shares fell 1.9% as the exchange operator revealed a tax probe.

Insulation maker Rockwool International /zigman2/quotes/200482992/delayed DK:ROCK.B -0.08%  dropped 4%, extending losses after cutting guidance.

Airport operator Flughafen Zurich /zigman2/quotes/208931828/delayed CH:FHZN +2.40%  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

Add to watchlist IT:I945

FTSE MIB Index

IT : Borsa Italiana

24,546.50

+296.05 +1.22%

Volume: 0.00

May 26, 2022 5:35p

/zigman2/quotes/210597999/delayed

Add to watchlist DX:DAX

DAX

DX : Xetra Indices

14,231.29

+223.36 +1.59%

Volume: 57,436

May 26, 2022 6:30p

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Add to watchlist FR:PX1

CAC 40 Index

FR : France: Euronext Paris

6,410.58

+111.94 +1.78%

Volume: 66,120

May 26, 2022 6:05p

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Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,564.92

+42.17 +0.56%

Volume: 648,110

May 26, 2022 4:56p

/zigman2/quotes/210598065/realtime

Add to watchlist DJIA

Dow Jones Industrial Average

US : Dow Jones Global

32,637.19

+516.91 +1.61%

Volume: 352.82M

May 26, 2022 5:42p

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Add to watchlist ES00

E-Mini S&P 500 Future Continuous Contract

US : U.S.: CME

$ 4,052.00

-3.75 -0.09%

Volume: 39,690

May 26, 2022 11:24p

/zigman2/quotes/205502669/delayed

Add to watchlist DE:DB1

Deutsche Boerse AG

DE : Germany: Frankfurt

€ 163.65

+0.65 +0.40%

Volume: 6.00

May 26, 2022 10:59p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

N/A

Rev. per Employee

€555,390

/zigman2/quotes/200482992/delayed

Add to watchlist DK:ROCK.B

Rockwool A/S Series B

DK : Denmark: OMX

kr. 1,879.00

-1.50 -0.08%

Volume: 33,421

May 25, 2022 4:59p

P/E Ratio

18.16

Dividend Yield

1.86%

Market Cap

kr.39.86 billion

Rev. per Employee

kr.1.92M

/zigman2/quotes/208931828/delayed

Add to watchlist CH:FHZN

Flughafen Zuerich AG

CH : Switzerland: SWX

CHF 162.30

+3.80 +2.40%

Volume: 38,861

May 25, 2022 5:30p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

CHF4.98 billion

Rev. per Employee

CHF355,091