S&P 500
2061.23
+48.34 +2.40%
Dow Indu
17778.15
+421.28 +2.43%
Nasdaq
4743.92
+99.61 +2.14%
Crude Oil
55.16
+0.80 +1.43%
Gold
1198.150
+1.255 +0.10%
Euro
1.22860
-0.00540 -0.44%
US Dollar
89.262
+0.029 +0.04%
Strong

Market Commentary and Intraday News

Fitch downgrades Italy on election uncertainty

650 days ago

Get Ready for Dow 31,000--free Report reveals what to do NOW
Select stocks are about to post explosive gains of 300%, 400%, 500% and more. Investors who make the right moves now will become extremely rich.  Which stocks will explode higher in value? And most importantly, how can you get in on this once-in-a-lifetime, wealth-building opportunity? My astonishing report names the stocks that could multiply your money up to seven times over as the Dow more than doubles over the next three years.
Click Here.

(AP:MILAN) Fitch Ratings Agency has downgraded Italy's credit rating to BBB+ from A- with a warning of a further downgrade, citing the uncertainty created by February's inconclusive elections.

Fitch on Friday said the failure to come up with a clear winner made "it unlikely that a stable new government can be formed in the next few weeks," thereby harming prospects of further reforms.

The rating agency said Italy's recession was one of the deepest in Europe, with an expected contraction of 1.8 percent in 2013. Fitch added that the size of the country's debt as a proportion of its economy is expected to peak at 130 percent this year, higher than an earlier estimate of 125 percent.

Talks on forming a new government aren't expected to begin before March 20.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.