Italian Stocks Lead Europe Lower as Politics Spook Traders

European stocks on Friday retreated from an almost-four month high as uncertainty about Italian politics contributed to a downdraft in a market already jittery over trade tensions between global superpowers China and the U.S.

The Stoxx Europe 600 index closed 0.3% lower at 394.67, breaking a three-day winning run. On Thursday, the pan-European benchmark ended at its highest level since Jan. 30, buoyed by a rally for oil-related companies.

For the week, the Stoxx 600 scored a 0.6% gain.


ItalyA?ai??i??ai???s FTSE MIB Index slumped 1.5% to 23,449.65, as political developments in the country flustered markets. The index declined by 2.9% on the week, its largest weekly percentage decline since early March during the general election.

Source : Market Watch

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