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Political unrest in Italy unsettles the markets



In Asia, stocks were seen on the defensive on Tuesday. MSCI's broadest index for Asia Pacific equities, excluding Japan, fell 0.3 percent after three consecutive contests.

Back in Europe, Italy's anti-establishment parties abandoned plans to form a coalition government on Monday after the president refused to accept a controversial decision for the economics minister. This led to opinion polls and market participants feared that another election campaign could focus on the further membership of Rome in the European institutions.

Spanish Prime Minister Mariano Rajoy will gain a vote of confidence in the trading week amid growing geopolitical uncertainty in the region.

On the data front, Italian and French consumer confidence data will be released for May at 9 o'clock London time.

Elsewhere, oil prices were mixed on Tuesday, and expectations rose Large producers could soon reverse part of their ongoing production cuts. Brent crude oil futures traded 0.4 percent to around $ 75.63 while the US WTI was trading at $ 66.79, a decrease of 1

.6 percent.


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