Logo of the London Stock Exchange. The euro rose against the dollar but was down versus sterling. Oil prices rebounded meanwhile, after slumping Friday to the lowest levels in more than one year. Bitcoin extended its slide, dropping under US$4,000 to US$3,541.02 – the lowest level for 14 months. “Italian stocks have been the outperformer in Europe … on reports that the government may consider reducing its deficit target in a bid to avert a disciplinary procedure in Brussels and a backlash in the markets,” noted Craig Erlam, senior market analyst at Oanda trading group. “The pound is also a little higher … after (British Prime Minister) Theresa May overcame the first, and smallest, hurdle to her Brexit deal getting over the line.” May convened her cabinet and updated Britain’s parliament on the newly-agreed Brexit deal Monday, as she begins the tricky task of selling the plan to her sceptical country. In Rome, Italy’s populist government appears open to reducing its draft budget deficit, fuelling a surge in the Milan stock market on hopes Rome could ease a stand-off with EU officials in Brussels. “The news has taken pressure off the Italian government bond market, and in turn it has… Read full this story
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