Following the sudden resignation of Giuseppe Conte from his position as Prime Minister of Italy on Tuesday, the President Sergio Mattarella will be holding extensive talks with other prominent political leaders of the country on Wednesday, to determine whether the formation of a coalition is possible or new elections are needed.
The surprising turn of events has left the Italian Government in a temporary turmoil, as the transition of power remains an equivocal issue, and political analysts and commentators remain uncertain as to who would inherit the vacant post of PM.
Meanwhile, the primary Italian Stocks Index – the FTSE MIB – has tumbled during Tuesday's trading session with 1.11 per cent, owing to the heightened ambiguity of Italian politics. The index is currently trading at 20485.43; however, it would likely break below the fundamentally important support level of 20000 and extend the mid-term losses in the direction of 19700.
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