Italian Debt Concerns Weigh on Global Stocks
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Price: $80.86 -3.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.6%
EPS Growth %: +446.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.6%
EPS Growth %: +446.2%
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European debt-contagion fears are making the rounds once again on Wall Street this week, sending stocks around the globe lower. Investors are concerned with the vulnerability of Italy and Spain, however the former is catching most headlines this morning.
Italy’s benchmark index tumbled the most since February Monday, prompting Italian regulators to implement a short-sale disclosure provision. The measure will require short-sellers to disclose positions once a short totals 0.2 percent or more of a company’s capital. Additional filings will be required for each further 0.1 percent shorted.
Finance ministers from the EU and EC met in Brussels, Belgium earlier, where discussions focused on Greece’s bailout package and debt levels in Italy. Several regulators have claimed Italy will be the next to be run over by dizzying debt levels within the region.
The Euro Stoxx index is currently down about 2.4 percent, while the FTSE 100 is down about 1.1 percent. In the US, the Dow Jones is down about 103 points to 12,553, the Nasdaq is down 20 points and the S&P 500 is down 13.
While data points on US indicators are sparse this week as Alcoa (NYSE: AA) kicks off the second-quarter earnings season, traders will get inflation readings with the PPI and CPI on Thursday and Friday, respectively.
Italy’s benchmark index tumbled the most since February Monday, prompting Italian regulators to implement a short-sale disclosure provision. The measure will require short-sellers to disclose positions once a short totals 0.2 percent or more of a company’s capital. Additional filings will be required for each further 0.1 percent shorted.
Finance ministers from the EU and EC met in Brussels, Belgium earlier, where discussions focused on Greece’s bailout package and debt levels in Italy. Several regulators have claimed Italy will be the next to be run over by dizzying debt levels within the region.
The Euro Stoxx index is currently down about 2.4 percent, while the FTSE 100 is down about 1.1 percent. In the US, the Dow Jones is down about 103 points to 12,553, the Nasdaq is down 20 points and the S&P 500 is down 13.
While data points on US indicators are sparse this week as Alcoa (NYSE: AA) kicks off the second-quarter earnings season, traders will get inflation readings with the PPI and CPI on Thursday and Friday, respectively.
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