Italian stocks rose on Monday, outperforming their regional peers as Telecom Italia and financial stocks advanced after the right-wing coalition led by Georgia Meloni looked poised to win the country’s general election.
Italy’s FTSE Mib index was up nearly 0.7% after falling 4.7% last week in its worst weekly performance since early June.
Telecom Italia shares rose 5.4%, while banks gained 1.3% after the center-right coalition won a clear majority in both houses of parliament, potentially giving Italy a rare chance at political stability after years of instability and fragile coalitions.
Germany’s main stock index retreated 0.1% after a survey showed German business confidence fell more than expected in September.
At 9:02 a.m. ET, the pan-European STOXX 600 index was down 1.43 percent at 388.97 points.
The FTSEurofirst 300 index was down 0.33 percent at 1,540 points.
In LONDON, the Financial Times index was down 0.59 percent at 6,977 points.
In FRANKFURT, the DAX index was up 0.03% at 12,287 points.
In PARIS, the CAC-40 index gained 0.01%, at 5,783 points.
In MILAN, the Ftse/Mib index was up 0.65%, at 21,203 points.
In MADRID, the Ibex-35 index was down 0.63%, at 7,535 points.