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Italian stocks lowest in 15 months

9:13 AM 16 August 2018
Thursday started in bright moods on the market after news of renewed talks between China and the US but not all the market enjoyed this sentiment. Among the losers is the Italian ITA40, down nearly 2% on Thursday, that missed the action due to a national holiday on Wednesday. The index hit the lowest level since May 2017 (just below 20500 points) amid concerns that the Italian banking sector – already in a poor shape – could be exposed to Turkey. Traders should watch the key zone between 19800 points (highs from early 2017) and 20500 (lows from mid-2017). Traders could go long ITA40 if they believe that the index recovers or short ITA40 if they see further price declines.
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