Stocks Move Off Lows As China May Bailout Italy
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Stocks got a temporary boost mid-day Monday following reports Italy is talking with China's Investment Corp. about selling bonds and other assets.
The FT reported that China Investment Corp. Chairman Lou Jiwei held discussions with Italian Finance Minister Giulio Tremonti and Italy's Cassa Depositi e Prestiti last week.
This recent meeting followed discussions between Italian officials, China Investment Corp. and China's State Administration of Foreign Exchange, in Beijing two weeks ago.
The FT said further negotiations between the China sovereign wealth fund and Italy will likely take place soon.
While off the lows the Dow Jones is still down 1117, the Nasdaq is down 13 and the S&P 500 is down 12.
The FT reported that China Investment Corp. Chairman Lou Jiwei held discussions with Italian Finance Minister Giulio Tremonti and Italy's Cassa Depositi e Prestiti last week.
This recent meeting followed discussions between Italian officials, China Investment Corp. and China's State Administration of Foreign Exchange, in Beijing two weeks ago.
The FT said further negotiations between the China sovereign wealth fund and Italy will likely take place soon.
While off the lows the Dow Jones is still down 1117, the Nasdaq is down 13 and the S&P 500 is down 12.
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