Euro and stocks firm after Italian referendum as oil takes first dip in five days
London — The euro held firm on Tuesday after a 3c swing in the wake of Italy’s referendum as European bond yields dipped in line with US peers and the oil price for the first time in five days. Overnight, Asian stocks had their strongest showing for two weeks after Wall Street’s Dow Jones index hit a record high and Europe’s main bourses struggled into positive territory, steadied by bumper German data. Italy remained in focus with sources telling Reuters that precautionary state aid had been prepared for Banca Monte dei Paschi di Siena and the crucial European Central Bank meeting on Thursday loomed. Italian bond yields were back below levels seen before Sunday’s referendum defeat for the government, while the euro held at $1.0767 having bounced strongly from as low as $1.0505 on Monday. "The referendum result could put the ECB under pressure not to taper the asset purchase programme, but to extend it for six months beyond March (in its current form)," said ING strategist Benjamin ...
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